Residential & Commercial Property Sales & Lettings | Lettings Management | Accommodation Outsourcing | Corporate Relocation
We are continuing viewing the sale and letting of properties, however we are managing our environment with strictly timed viewing schedules, social distancing, hand washes and anti-bacterial wiping of surfaces etc.
Viewers should practice best hygiene when on site.
We appreciate your cooperation in this difficult time.
Last quarter was 13th consecutive record breaking period
figures courtesy of Daft.ie
Average rents, and year-on-year change, as of the second quarter of 2019:
Demand continues to far outstrip supply and on 1 May 2019, there were only 2,700 homes available to rent nationwide – the lowest number ever recorded.
New rent pressures zones came into effect in 19 locations last month, including areas in Waterford, Galway and Cork – counties which all experienced notable rent increases in the last quarter.
Average mortgage much cheaper than average rent
The average monthly rent in Irish cities is generally much higher than the monthly cost of a mortgage.
For example, the average mortgage in Dublin city centre is €1,488 per month, compared to the average monthly rent of €2,064 – that’s a 139% difference.
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Over the past 6 months or so we have noticed a weakening in house price growth especially second hand homes. The number of new house builds coming on stream has finally begun to kick in, giving home buyers more options and, as we all know, supply effects pricing.
Dublin property prices rose by just 1% in the second quarter this year and while they are still rising, it is still a healthy sign that the overheating is going out of the market.
Economist Marian Finnegan’s research (Irish Times, 28th June 2018) showed that new home sales went up a strong 41% in the first quarter of 2018 over the same period 2017.
The Letting market unfortunately has not seen increased supply as yet and rents are still exorbitantly high.
South Dublin County Council has issued the Planning Notice for a new sports complex in Griffeen Valley Park. It will include a 25m pool, a gym and fitness centre, changing facilities of course and a cafeteria, the space will total 3,300 sq M in all.
You can see details here or in the Library at Superquinn – which is open on Saturdays too – 09.30 to 4.30pm
SDCC say that the development will not affect either the structure or the views of King Johns Bridge in Grifeen Valley Park.
If all goes according to plan, the new complex could be with us by 2020. With a 2016 Census population of 32,134 and scheduled to grow with the 2017 SDCC Development plan, it will be a welcome addition for our young and our adult population.