Transcript
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Introduction by Dr. Lorcan Sirr, Lecturer, DIT School o Real Estate and Construction Economics
The Dat.ie Rental ReportAn analysis o recent trends in the Irish rental market
2012 Q3
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IntroductionIntroduction by Dr. Lorcan Sirr, Lecturer, DIT
The rental market is changing,and changing rapidly
2 | The Dat.ie Rental Report - 2012 Q3
The Dat.ie Report has always been an interesting publication, providing a rat o rent-related inormation
and giving a snapshot o lie in the rental market. But who, and what, was this rental market?
With a small degree o artistic licence, I would say that it requently comprised landlords with a couple
o ats that they, oten reluctantly, dealt with ater their day jobs, i at all; more were landlords who had
inherited their properties and really didnt have the knowledge, interest or resources to manage them
properly (the accidental landlords); even more were developers hanging on to their units until capital
values improved; and nally, theres occasional landlord who took an active part in managing their
property and tenants.
And on the tenant side? The rental sector has long had a maligned reputation as a reuge or unruly
students, separated athers, the unemployed, the poor, recent immigrants, and the socially marginalised.Government policy has always been so heavily weighted towards home ownership that there had to be
something wrong i you couldnt or didnt own your own home.
The properties themselves reected this tenant stereotype, with many being on the marginal side o
habitable. And here I withdraw my artistic licence, or as a renter mysel, I have seen what the rental
market requently oers quite recently and what landlords thought was acceptable to ask rent or:
damp, draughty, cold, unhealthy units oten not meeting basic human needs with barred windows and
urniture that a dump would reject. The landlords wouldnt have stayed in their own rental units, but it
was alright or someone else.
The average Irish landlord has between 1.6 and 2.1 properties, depending on which gures (below) are
used, and less than 1.25% has ten or more properties, reecting an undeveloped and amateur market.The amateur nature o the rental market is highlighted in the 31.72% discrepancy in the number o
tenancies registered with the Private Rented Tenancies Board in December 2010 (231,828) and the
number o tenancies recorded by the state Census just our months later (305,377). This is symptomatic
o a ear o regulation a typical amateur notion rather than recognition that regulation would actually
strengthen the market, and indeed, rents.
The legislation governing the landlord and tenant relationship also reects this amateurism. No doubt
inuenced by demands at the time, the Residential Tenancies Act 2004 is now sel-deeating in its
unction. It is heavily biased towards supporting the landlord and as such aords landlords a range o, in
my opinion, spurious reasons whereby they can recover possession o their property.
The Act thereore perpetuates the amateur nature o the market by actively deterring those who wouldwant to rent or the long term.
Continued on next page >
Lorcan Sirr is a lecturer in housing at
Dublin Institute of Technology.
He is a renter, has been a home-owner,
and until recently was also a landlord.
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But the rental market is changing, and changing rapidly, and both the Act and landlords are going to have to adapt i they
want to capture what the market has to oer.
The numbers o individuals and amilies renting has rocketed in the last ve years. Across Ireland, about 29% o all people now
rent, with 18.5% renting rom the private sector. This is roughly the same level as in the mid-1950s. But what is more interesting
is the speed o change: numbers renting in the private sector have increased 86% (up rom 9.9%) since 2006.
Not alone that, but those renting have also changed, as is reected in the rental increases or specic types o properties.
Family homes are now in big demand as oten previous owners eel reluctant to risk their savings again on the gamble that is
property ownership.
Then there are the DOODs the Dont Own Or Drive cohort who are well-educated, well-travelled, demanding, employed
people who would rather trade a car-parking space and ownership or proximity to services and a decent location to live in.
They could get a mortgage i they wanted to, but its not really or them.
These groups are the antithesis o those who have traditionally rented in the private sector. And no, not all these renters are
hanging on until the market recovers. The recent SCSI/Red C survey shows that 61% o renters would be happy to rent long
term, suitable property and terms being available.
Rents in solid established suburban locations are increasing, meaning that although the type o renter may be changing,
where they want to live is not. Rents are up in Dublin in general and Galway city, and alls in rent are easing elsewhere. Rental
stock is alling everywhere.
All this means there is a new market out there ready to be satised. It also means that to capitalise on this market several things
have to change.
1) Broadly, landlords have to proessionalise and increase the standard o accommodation on oer to meet the requirements
o an increasingly demanding tenant sector. I they dont, they will miss out on the prime tenants who are now out thereseeking accommodation. It also means registering with the PRTB as required by law. It isnt an option.
2) The Residential Tenancies Act has to change to better balance the needs o tenants with those o landlords.
The RTA is currently the opposite o what it needs to be, and deters potential renters rom the market rather than
supporting them.
3) Government policy has to translate into legislation. Equity o tenure is a commendable concept, but would be better still i
it had the orce o law where it balances the rights o those who want to rent with those who want to own.
The Dat.ie Report started o with a relatively narrow market at its core, but that market has now grown considerably. It
may come as a surprise even to itsel, but Dat.ie and its gures arguably reect the most signicant cultural shit in the Irish
property-psyche in the last ty years.
Enjoy.
Introduction (contd)Introduction by Dr. Lorcan Sirr, Lecturer, DIT
The rental market is changing,and changing rapidly
3 | The Dat.ie Rental Report - 2012 Q3
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4 | The Dat.ie Rental Report - 2012 Q3
Year-on-year change rom Q3 2011
809 | Change: -0.5%
581 | Change: -1.5%Galway
566 | Change: -0.4%
Sligo
626 | Change: -0.8%
463 | Change: -2.2%
566 | Change: -4.7%
508 | Change: -1.4%
450 | Change: -1.6%
Kerry
593 | Change: -1.4%
597 | Change: -2.4%
Cork
670 | Change: -0.7%
Waterford
Meath
717 | Change:0.2%
Cork City
867 | Change: -0.4%
Laois
550 | Change: -1.1%
Offaly580 | Change: -0.7%
Limerick
607 | Change: -1.6%
Kilkenny
634 | Change: -3.4%
Waterford City
Galway City
791 | Change: 2.2%
Mayo
556 | Change: -3.3%
Donegal
531 | Change: -2.8%
Roscommon
523 | Change: -3.7%
Limerick City
680 | Change: -2.2%
Clare
571 | Change: -3.0%
Wicklow
924 | Change: -2.3%
Louth
670 | Change: -1.0%
Dublin City Centre
1,017 | Change: 3.7%
West Dublin County
975 | Change: 1.2%
North Dublin CountyDublinClose-up
997 | Change: 1.9% North Dublin City
1,024 | Change: 2.4%
South Dublin City
1,159 | Change: 3.1%
Wexford
607 | Change: -0.7%
Carlow
638 | Change: -3.4%
Kildare
Westmeath
Leitrim
Monaghan
Cavan
Longford
Tipperary
603 | Change: -2.8% 624 | Change: -4.0%
South Dublin County
1,359 | Change: 3.9%
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Rents up 3%year-on-year in Dublinand 2% in Galway
The upward trend in urban rents continued
in Dublin and Galway, while rents in Cork
are now stable in year-on-year terms.
Rents outside cities riseslightly in third quarterOutside the main cities, rents rose 1%
between July and September but remain1.5% lower than a year previously.
Number o propertiesavailable to rent inDublin alls sharplyOn November 1, there were just 2,200
properties available to rent in Dublin,
compared to almost 7,000,
three years previously.
.5
Dat.ie National Rental Index
0.8%Rents nationally were 0.8% higher on average in the thirdquarter o 2012 than a year previously. The average rentnationwide between July and September was 820, comparedto 809 in the previous quarter.
5 | The Dat.ie Rental Report - 2012 Q3
Daft.ie National Rental Index(2007 average = 100)
January
February
March
April
May
June
July
August
September
October
November
December
2002
98.1
96.2
93.2
94.9
94.8
93.4
92.1
91.8
91.0
89.1
87.6
85.7
2007
95.3
98.2
98.8
100.3
100.9
101.6
102.2
101.5
102.1
102.3
97.6
97.0
2008
97.6
99.0
98.4
97.8
99.4
98.6
97.8
97.3
96.6
95.9
94.3
91.7
85.5
86.5
86.7
87.0
85.8
85.3
85.1
85.1
84.8
83.0
81.9
81.4
2003
81.1
80.4
80.2
80.5
80.8
81.2
82.1
83.0
83.5
83.4
82.7
82.4
2004
82.8
82.7
83.6
83.4
83.9
83.8
84.5
85.0
84.9
86.0
86.8
87.9
2005
87.6
86.5
87.0
87.6
90.0
90.9
91.3
92.6
93.9
94.7
94.3
93.9
2006 2010
76.0
77.3
77.0
76.8
76.4
76.5
76.0
75.6
76.1
75.8
76.4
75.4
2009
89.5
89.5
87.9
85.9
83.9
82.7
81.4
80.5
80.2
79.2
78.3
76.7
2011
75.3
76.3
76.0
76.4
75.8
75.6
75.9
76.2
75.8
75.5
75.3
75.6
2012
75.6
75.9
75.9
75.9
75.2
75.5
75.8
76.8
77.0
76.9
Stock of Properties to Rent (start-of-month) & Flow of New Properties to Rent(during entire month), 2007-2008
NumberofProp
erties
Stock Out FlowInflow
0
5000
10000
15000
20000
25000
2007 II III IV 2008 II III IV 2009 II III IV 2010 II III IV 2011 II III IV 2012 II III IV
The index is based on asking rents for
properties advertised to let on Daft.ie. Figures
are calculated from econometric regressions,
which calculate changes in price that are
independent of changes in observable
measures of quality, such as l ocation, or
bedroom number.
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6 | The Dat.ie Rental Report - 2012 Q3
Dat.ie Snapshot o RentNationwide
What can I ask or? Can I aford it?Average rents across Ireland, by postcode/region andbedroom number, Quarter 3, 2012
Daft.ie Snapshot of Rents Nationwide1bed 2bed 3bed 4bed 5bed
Dublin 1
Dublin 2
Dublin 3
Dublin 4
Dublin 5
Dublin 6
Dublin 6W
Dublin 7
Dublin 8
Dublin 9
Dublin 10
Dublin 11Dublin 12
Dublin 13
Dublin 14
Dublin 15
Dublin 16
Dublin 17
Dublin 18
Dublin 20
Dublin 22
Dublin 24
North Co Dublin
South Co Dublin
West Dublin
Cork City
Galway City
Limerick City
Waterford City
Dublin Commuter Counties
West Leinster
South-East Leinster
Munster
Connaught
Ulster
798
946
791
995
734
771
778
703
755
708
724
738730
790
908
756
901
*
907
779
735
739
768
883
713
608
575
441
429
537
393
430
419
398
349
1,118
1,350
1,008
1,435
1,034
1,153
1,096
988
994
991
853
903910
1,030
1,191
918
1,147
917
1,142
964
882
893
883
1,226
913
779
756
589
517
676
483
536
516
463
430
1,478
1,922
1,263
1,990
1,131
1,558
1,352
1,208
1,259
1,206
993
1,0251,100
1,189
1,463
1,070
1,267
1,153
1,411
1,078
980
1,029
1,041
1,628
1,061
856
863
707
657
767
594
631
628
618
561
*
*
1,534
2,707
1,316
2,161
1,725
1,439
1,520
1,492
798
1,2071,246
1,457
1,857
1,226
1,445
798
1,951
1,313
1,100
1,230
1,216
2,244
1,209
1,046
950
806
723
891
641
696
706
649
597
*
*
1,828
4,548
1,645
2,608
2,213
1,816
1,882
1,709
*
1,478*
*
2,418
1,955
2,324
*
2,568
*
3,300
1,166
1,673
3,526
1,626
1,348
1,097
878
805
1,150
690
836
776
740
642
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Trends in Rents Across DublinFrom Quarter 1, 2006 to Quarter 4, 2012
7 | The Dat.ie Rental Report - 2012 Q3
Rent-a-room income trends
AreaAverage
rent% Yr/yrchange
Averagerent
% Yr/yrchange
Dublin City Centre
North Dublin City
South Dublin CityNorth Co. Dublin
South Co. Dublin
West Co. Dublin
398
329
377 290
402
295
-1.5%
0.9%
1.9%2.5%
4.4%
3.9%
500
410
485 376
472
381
-0.2%
2.8%
2.1%1.3%
4.4%
1.9%
Vacancy
3.3
7.2
4.89.3
5.9
8.7
Single Room Double Room
Average rents by region, 2006 - 2012
Dublin City Centre North Dublin City South Dublin City North County Dublin So uth Co unty Dublin West Co unty Dublin
800
1,000
1,200
1,400
1,600
1,800
2,000
2006 Q2 Q3 Q4 2007 Q2 Q3 Q4 2008 Q2 Q3 Q4 2009 Q2 Q3 Q4 2010 Q2 Q3 Q4 2011 Q2 Q3 Q4 2012 Q2 Q3 Q4
West County DublinAverage rent: 975Year-on-year change: 1.3%
Quarter-on-quarter change: 1.5%Change from peak: -26.4%
North County DublinAverage rent: 1,000Year-on-year change: 2.1%
Quarter-on-quarter change: 1.3%Change from peak: -24.5%
Dublin City CentreAverage rent: 1,020Year-on-year change: 4.0%
Quarter-on-quarter change: 1.5%Change from peak: -24.8%
North Dublin CityAverage rent: 1,026Year-on-year change: 2.6%
Quarter-on-quarter change: 1.6%Change from peak: -26.7%
South County DublinAverage rent: 1,362
Year-on-year change: 4.2%Quarter-on-quarter change: 4.2%
Change from peak: -22.5%
South Dublin City
Average rent: 1,162Year-on-year change: 3.3%Quarter-on-quarter change: 2.8%Change from peak: -23.7%
There were 2,200 properties available to rent in Dublinon November 1, the lowest gure since early 2007and down rom almost 7,000 three years ago.
The rent or a room has increased by nearly 5%in the last year in South County Dublin - increaseselsewhere have been smaller.
Compared to rents at their highest in late 2007,rents in the capital are roughly one quarter lower.
Rents in most parts o Dublin are now between 2%and 4% higher than a year ago.
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Trends in Rents in Other CitiesFrom Quarter 1, 2006 to Quarter 4, 2012
8 | The Dat.ie Rental Report - 2012 Q3
Cork City Galway City Limerick City Waterford City
600
700
800
900
1,000
1,100
1,200
2006 Q2 Q3 Q4 2007 Q2 Q3 Q4 2008 Q2 Q3 Q4 2009 Q2 Q3 Q4 2010 Q2 Q3 Q4 2011 Q2 Q3 Q4 2012 Q2 Q3 Q4
Average Rents by region Other Cities, 2006 - 2012
2006 Q2 Q3 Q4 2007 Q2 Q3 Q4 2008 Q2 Q3 Q4 2009 Q2 Q3 Q4 2010 Q2 Q3 Q4 2011 Q2 Q3 Q4 2012 Q2 Q3 Q4
Rent-a-room income trends
AreaAverage
rent% Yr/yrchange
Averagerent
% Yr/yrchange
Cork City Centre
Cork City Suburbs
Cork Commuter Towns
Galway City Centre
Galway City Suburbs
Limerick City Centre
Limerick City Suburbs
Waterford City Centre
305
266
235
287
272
252
231
253
-1.9%
-4.0%
1.3%
1.1%
1.5%
8.6%
-2.9%
-1.9%
355
316
317
339
309
295
273
257
3.2%
-2.2%
1.0%
2.1%
2.3%
5.0%
0.0%
-3.4%
Vacancy
15.1
14.9
12.7
6.7
8.7
13.3
12.3
21
Single Room Double Room
Cork City
Galway City
Limerick CityWaterford CityAverage rent: 680
Year-on-year change: -2.2%Quarter-on-quarter change: -0.5%Change from peak: -24.0%
Average rent: 624Year-on-year change: -4.0%Quarter-on-quarter change:1.2%Change from peak: -24.8%
Average rent: 792Year-on-year change: 2.2%Quarter-on-quarter change:4.6%Change from peak: -13.9%
Average rent: 867Year-on-year change: -0.4%Quarter-on-quarter change: -3.6%Change from peak: -21.5%
Having risen over much o the previous two
years, rents in Cork have eased back in the lastquarter and are unchanged compared toa year previously.
In Limerick and Waterord cities, rents are stillalling in year-on-year terms, while in Galwaythey are up 2%.
The number o properties available to rent acrossthese our cities on November 1 - at 1,700 -was largely unchanged rom a year previously.
Rent-a-room income has increased in mosturban areas, although they have allen again
in Corks suburbs.
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Trends in rents-rest o the CountryFrom Quarter 1, 2006 to Quarter 4, 2012
9 | The Dat.ie Rental Report - 2012 Q3
Average Rents by region rest of country, 2006-2012
Dublin Commuter Counties West Leinster South-East Leinster Munster Connaught Ulster
500
600
700
800
900
1,000
1,100
1,200
2006 Q2 Q3 Q4 2007 Q2 Q3 Q4 2008 Q2 Q3 Q4 2009 Q2 Q3 Q4 2010 Q2 Q3 Q4 2011 Q2 Q3 Q4 2012 Q2 Q3 Q4
Rent-a-room income trends
AreaAverage
rent% Yr/Yrchange
Averagerent
% Yr/Yrchange
Dublin Comm. Counties
West Leinster
South-East Leinster
Munster
Connaught
Ulster
274
225
268
226
234
204
-3.3%
3.1%
-4.2%
0.0%
1.6%
11.4%
326
249
281
254
254
232
-0.4%
-0.5%
-0.3%
1.0%
1.3%
0.2%
Vacancy
13.5
16.0
14.5
15.0
17.3
13.1
Single Room Double Room
South-East LeinsterAverage rent: 622Year-on-year change: -1.8%Quarter-on-quarter change:1.4%
Change from peak: -24.8%MunsterAverage rent: 626Year-on-year change: -1.5%Quarter-on-quarter change:0.4%Change from peak: -26.6%
ConnaughtAverage rent: 559Year-on-year change: -1.8%Quarter-on-quarter change: 2.1%Change from peak: -21.7%
UlsterAverage rent: 529Year-on-year change: -2.5%Quarter-on-quarter change: -0.5%Change from peak: -25.2%
West LeinsterAverage rent: 554Year-on-year change: -1.1%Quarter-on-quarter change:0.6%Change from peak: -26.0%
Dublin CommuterCountiesAverage rent: 780Year-on-year change: -0.8%Quarter-on-quarter change:1.7%Change from peak: -28.9%
With rents rising in the autumn slightly, the year-on-year all in rents outside the cities has eased to
1-2% in most regions.
Rents are closest to stabilising in the commutercounties (down 0.8% in a year), while in Ulsterthey are 2.5% lower.
The number o properties available to rent outsidethe main cities on November 1 was just under9,800, compared to 11,600 a year previously
Rent-a-room income or double rooms is largelyunchanged outside the cities, with only slight allsrecorded in Leinster.
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First Time Buyer and Investor Inormation
Can we aford it?The mortgage cost, including mortgage interest relie and incomerom the rent-a-room scheme, by region and bedroom number.
10 | The Dat.ie Rental Report - 2012 Q3
Investor Information: Snapshot of yields across the country
Location \ Bedroom # AverageYr/yr
change 1-bed 2-bed 3-bed 4-bed 5-bed
Dublin City Centre
North Dublin City
South Dublin City
North Dublin County
South Dublin County
West Dublin County
Dublin Commuter Counties
West Leinster
South-East Leinster
Munster
Cork City
Limerick City
Waterford CityConnaught/Ulster
Galway City
Average
8.4%
6.8%
6.2%
6.2%
5.4%
7.4%
5.7%
5.3%
5.5%
4.9%
5.9%
5.8%
6.9%5.4%
6.5%
5.5%
1.2%
0.9%
0.5%
0.8%
0.1%
1.2%
0.8%
0.4%
0.7%
0.6%
0.6%
0.8%
1.0%0.8%
1.4%
0.7%
7.5%
8.4%
8.7%
8.8%
6.2%
8.5%
6.1%
6.5%
8.2%
6.2%
7.4%
6.9%
7.2%
5.4%
8.3%
7.0%
0.0%
1.8%
2.0%
2.4%
0.7%
0.3%
0.0%
0.3%
2.5%
1.2%
1.1%
0.3%
0.4%0.6%
1.7%
1.0%
8.7%
8.2%
6.8%
7.5%
5.8%
8.5%
7.2%
6.9%
7.7%
6.4%
7.5%
7.5%
8.5%
6.8%
6.6%
7.1%
2.1%
1.7%
0.4%
1.6%
0.6%
1.1%
0.9%
0.7%
1.4%
1.0%
1.0%
1.4%
1.6%0.8%
1.2%
1.0%
10.9%
6.1%
5.7%
6.3%
6.0%
7.7%
6.2%
6.6%
5.9%
5.6%
6.1%
6.0%
7.7%
6.6%
7.4%
6.2%
2.2%
0.3%
0.2%
0.5%
0.1%
1.5%
0.9%
0.7%
0.7%
0.7%
0.7%
0.8%
1.5%1.1%
1.5%
0.8%
*
5.6%
4.7%
4.2%
4.3%
5.5%
4.7%
4.5%
4.5%
4.0%
4.9%
4.9%
5.3%
4.9%
6.0%
4.6%
*
0.9%
0.3%
0.4%
0.0%
0.7%
0.6%
0.2%
0.5%
0.5%
0.3%
0.8%
0.3%0.9%
1.3%
0.6%
*
4.4%
5.6%
3.4%
4.0%
5.3%
4.4%
3.3%
4.2%
3.5%
4.7%
3.5%
4.3%
4.3%
4.7%
4.0%
*
0.0%
0.8%
0.2%
-1.5%
1.6%
0.8%
-0.2%
0.6%
0.2%
0.2%
-0.9%
-0.8%0.4%
1.3%
0.3%
Yr/yrchange
Yr/yrchange
Yr/yrchange
Yr/yrchange
Yr/yrchange
First-time buyer information: Rent-a-room income and net loan burden
Location \ Bedroom #
Singleroom
Doubleroom
1-bed,noletting
2-bed,noletting
3-bed,noletting
4-bed,noletting
2-bed,letting 1double
3-bed,letting 1double
3-bed,letting 1doubleand 1single
Dublin City Centre
North Dublin City
South Dublin City
North Dublin County
South Dublin County
West Dublin County
Dublin Commuter Counties
West Leinster
South-East Leinster
Munster
Cork City
Limerick City
Waterford City
Connaught/Ulster
Galway City
398
329
377
290
402
295
274
225
268
226
269
242
253
219
280
500
410
485
376
472
381
326
249
281
254
329
284
257
243
324
467
346
370
347
554
353
346
247
214
275
324
316
242
283
292
519
467
651
474
768
429
377
286
280
326
415
472
242
284
474
19
57
166
98
296
48
51
37
-1
72
85
188
-15
41
150
545
744
990
654
872
544
497
358
429
453
566
677
348
376
498
45
334
505
278
400
163
170
108
147
199
237
393
91
133
174
-353
5
128
-12
-2
-132
-104
-116
-121
-27
-32
152
-162
-86
-106
4-bed,letting 1double
4-bed,letting 1doubleand 1single
*
1,005
1,601
1,155
1,976
883
768
568
614
704
858
1,069
542
525
686
*
595
1,116
779
1,504
502
442
319
333
451
529
785
285
282
362
*
266
739
489
1,102
207
168
94
65
225
260
543
32
63
83
Mortgage repayments are based on the following application: 30 years, 4.25% variable mortgage, 90% LTV, 25% mortgage interest relief (joint application)
7/30/2019 Daft Rental Report Q3 2012
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About the Report
Over the last 10 years, Dat.ie has collected a vast
amount o data on the Irish property market. In
2011 alone, more than 260,000 properties were
advertised on the site.
The goal o the Dat.ie Report is to use this inormation to help all actors in the property
market make inormed decisions about buying and selling. In addition, because it is
reely available, the Dat.ie Report can help inorm the media, the general public and
policymakers about the latest developments in the property market.
The Dat.ie Rental Report was launched in 2005. It has already become the denitive
barometer o the Irish rental market and is being used by the Central Bank, mortgage
institutions, nancial analysts and the general public alike. Since its introduction at
the start o 2006, the Dat.ie Asking Price Index is also being recognised as the earliest
available reliable indicator o developments in house prices in Ireland.
This is the Dat.ie Rental Report, the partner to the Dat.ie House Price Report issued last
month. Together, they give house-hunters and investors more inormation to help them
make their decisions. These twin reports mean that Dat.ie is the only objective monitor
o trends in both rental and sales markets on a monthly basis, making the report an
essential barometer or anyone with an interest in the Irish property market.
Methodology and Sample Size
The statistics are based on properties advertised on Dat.ie or a given period.
The regressions used are hedonic price regressions, accounting or all available and
measurable attributes o properties and only coefcients with a very high degree o
statistical signicance (p < 0.001) are used.
The average monthly sample size or lettings properties is over 10,000. Indices are
based on standard methods, holding the mix o characteristics constant, with the annual
average o 2007 used as the base. For more on the methodology, please see
www.dat.ie/research.
About Daft.ie
Dat.ie is Irelands largest
property website. The latest
audited report rom ABC (Sep
2011) shows monthly trafc o 130
million page impressions (pages
o inormation received) and 1.976
million unique users per month
across Dat Medias property
websites (dat.ie, rent.ie, let.ie,
property.ie). This makes Dat.ie thebiggest property website in Ireland
across all demographics.
The snapshot on page 7 covers
the period rom Aug to Sep 2012.
Snapshots are a highly generalised
view o the market. They should
only be used as an indicator o
rents and not as a denitive guide
as there are many actors not
included above that aect rents.
11 | The Dat.ie Rental Report - 2012 Q3
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12/12
Disclaimer
The Dat.ie Report is prepared
rom inormation that we believe
is collated with care, but we do not
make any statement as to its accuracy
or completeness. We reserve the rightto vary our methodology and to edit
or discontinue the indices, snapshots
or analysis at any time or regulatory
or other reasons. Persons seeking to
place reliance on any inormation
contained in this report or their own
or third party commercial purposes
do so at their own risk.
Credits
Economic Analysis:Ronan Lyons
Data Compilation:
Deirdre Ni Chuilleaneain
Layout and Editing:
Ciara Mulvany
All data is Copyright Dat Media
Limited. The inormation contained in
this report may only be reproduced i
the source is clearly credited.
Please contact Dat.ie on 01-6795040
or urther inormation.
Coming Next
The Dat.ie House Price Report2012 in ReviewIn early January 2013
The Dat.ie House Price Report will be published in early January 2013
and will provide a detailed regional analysis o asking prices and transaction prices
as well as all the usual indices, snapshots, trends and regional analysis, providing
the public with Irelands most up-to-date inormation on the housing market.
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