| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : Property Last Updated: Aug 27, 2014 - 10:38 PM

Irish students face rising rents and 40% fewer properties available
By Michael Hennigan, Finfacts founder and editor
Aug 19, 2014 - 8:09 AM

Email this article
 Printer friendly page

There are almost 40% fewer Irish properties available to rent compared to this time last year according to the latest quarterly Rental Report by Daft.ie. Nationally, rents have risen by over 10% in the space of twelve months with the national average rent now €915 compared to €825 a year previously.

Rents rose in every county, bar Donegal, and all city centres experienced rise of between 3% in Waterford and 17% in Dublin. There are now 6,800 properties available to rent across the country, down from 11,000 in August 2013.

Domhnall McGlacken-Byrne, Trinity College Dublin Students' Union President has stated that this is a "source of alarm" for prospective tenants and suggested that "Non-EU students might well choose to pursue their studies elsewhere".

Commenting on the report, Ronan Lyons, economist at TCD and author of the Daft Report, said: "For students looking for accommodation, the 2014/2015 academic year is likely to prove one of the toughest for over a decade. The imbalance between supply and demand is particularly acute in Dublin, where rents are closer to their 2007 peak than their lowest point in 2010. In a market like this, it is easy to panic so it is important that prospective tenants do their research ahead of making any decisions."

Year-on-year change in rents - major cities, Q2 2014
Dublin: €1,345, up 17.2%
Cork: €866, up 7.4%
Galway: €845, up 6.7%
Limerick: €682, up 6.3%
Waterford: €608, up 2.8%

Domhnall McGlacken-Byrne, TCD Students' Union president, in a commentary in today's report added: "These abstract figures are easiest considered in the context of their translation to students' lives. A 15% increase for the student formerly paying €500 a month for his or her share of a Dublin city centre home corresponds to €75 that must be conjured from somewhere: for example through a few extra evenings a week spent working a part-time job instead of studying.

To think further downstream again, well-publicised doubts cast on the supposedly diminishing quality of the Irish graduate, by job-generating multinationals such as Google, come to mind: hours spent commuting or working on the side are hours lost from the library and lost from the lab. How can grades be expected not to decline, mental well-being not to suffer, all-important retention rates not to be damaged? One ultimately sees the far-reaching ramifications of these economic developments on the quality of the product of our higher education system, a product on which collective hopes for economic recovery are pinned."

Report [pdf]

Related Articles
Related Articles

© Copyright 2011 by Finfacts.com

Top of Page

Latest Headlines
Irish residential rents rise 9% as students face tight market conditions
Irish construction activity growth eased in July
Irish residential property prices fell in Dublin in June
Irish mortgage approvals growth fell sharply in April 2015
Irish land prices among highest in world; Noonan tax cut boosts Dublin prices
AIB cuts Irish variable mortgage rates
Dublin residential property prices rose by 1.1% in March
Global property bubble: Dublin tops 2014 global returns at 44.7%
New Irish housing units in 2015 forecast at only 10,000
Ireland: Dublin house prices up 21% in year to February 2015 after price decline in month
Prime office rents in Dublin to rise by up to 31% in 2015 after 29% surge in 2014
Irish mortgages paid in 2014 at 1976 level; Half of house sales paid in cash
Irish residential property prices fell 1.4% nationwide in January
Irish House Rents: Supply tightens in Dublin's commuter counties in Q 42014
Irish commercial property returns in 2014 among highest in world
Irish Housing: "Unique" demographics to boost demand; Shortages to rise
Irish mortgage approvals in 2014 at 36-year low; Exceed paid loans
Irish commercial property investment in 2014 was 25% above bubble peak in 2006
Irish construction continues to rise from very low base
Irish house asking prices fell back slightly in fourth quarter of 2014
Price/Earnings multiple for Dublin houses is double 1993 level
Residential property rents up almost 10% in Dublin in past year
Irish Government and vested interests lobby for easing of Central Bank's mortgage rules
Ireland tops global property price rankings six years after bust
Number of Irish mortgages paid in 2014 at 1974/75 level - a 40 year-low
Irish construction PMI survey confidence measure highest since 2000
Irish mortgage arrears decline; 38,463 BTL accounts in arrears
Irish Housing: Renting provides less security than ownership, unpredictable rents
Ireland: NAMA to redeem €1bn of senior bonds; Fund Boland’s Mill site development
Ireland: 35,000 social housing units by 2020 achievable; Rental market possibly not
Dublin house prices up 24.1% in year to October 2014
Irish home ownership to fall due to affordability
'Tara Collection' of office buildings on sale in Dublin for €263.8m
Irish Housing Rents 2014: Dublin just 10% short of 2007 bubble peak
Irish Economy: Residential mortgage approvals in 2014 as low as in 1977
Irish Construction: Fastest rise in new business for decade - not level of activity
Biggest US individual landowner responds to tax breaks in Ireland and UK
Irish commercial property annual return to September 2014 at 36.6% - income at global high
NAMA expects surplus of less than €500m - it's not a profit; 88.5% sales to US investors
NAMA selling 588 Dublin apartments - name withheld in announcement