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RENTS IN DUBLIN are now higher than they were at the peak of the housing boom.
New figures from the Residential Tenancies Board show that, after plummeting from their peak in the final quarter of 2007, average rents in Dublin have since risen and risen to the point that they are now 0.2% higher than that high-water mark.
In the market outside of Dublin rents are rising at a much slower pace and are still 13.9% below their 2007 peak.
All these figures are up on yearly bases but the figures also show that rental increases are slowing.
At a national level, rent levels rose by 0.5% in the first quarter of 2016. This is compared to a growth rate of 1.6% in the same period last year.
Monthly rents for houses are now marginally lower, by 0.3% in the latest figures, while rents for apartments were 1.8% higher than the end of 2015.
Despite the relative cooling of price increases, their consistent growth over the past year means that prices are significantly above what they were at this time in 2015.
In monetary terms, the stats show that the average rent in Dublin is now €1,454 for a house and €1,306 for an apartment. Last year these stood at €1,342 and €1,208.
Nationally, the average monthly rent for an apartments is €972 and €900 for a house. Last years these were €885 and €835.
All these figures are based on actual rents paid rather than asking prices and come from new agreements signed in the first three months of this year.
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Why the hell are they putting a massive bridge down such a narrow street?
Its common practice now in congested areas of the world it simply gets rid of T – junctions Buy allowing traffic to flow over other crossing traffic.
Because they can.
The bigger question is why didn’t they close off the area during construction?!
Not this time.
It’s common practice for 3rd. world countries to put up these ‘jerry built’ constructions, like many of the shit housing developments here.
The obvious fault is the crumby Steel that was used. It’s twisted and crumpled like paper. Probably the Steel workers were getting kickbacks…. The weight of the poured concrete was just too much.
They should bring in the Chinese.
The Chinese know how to build sturdy structures ever since they built the Great Wall.
The Great Wall of China still stands proud even after thousands of years of earthquakes.
.
Dublin Cowboy Builders please take note.
I’ve been to India many times. I doubt there are any building regulations. If I want build a small extension in the uk there are hoops to jump through. It is checked by the council, I have to make changes, meet standards, resubmit plans etc…it’s frustrating but when you see stories like this perhaps those strict regulations are there for very good reason. Getting things done cheap might help rapid progress but it has consequences.
“We completed nearly 70% without mishap” – gold stars all around so! Talk about a glass half full attitude.
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