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    Introduction by Ronan Lyons, Economist with Dat.ie

    The Dat.ie Rental ReportAn analysis o recent trends in the Irish rental market

    2013 Q2

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    IntroductionBy Ronan Lyons, Economist with Dat.ie

    A tale o two cities:the rental market and thewider economy

    2 | The Dat.ie Rental Report, 2013 Q2

    As with all o the recent editions o the Dat.ie Report, the 2013 Q2 Rental Report shows the

    property market in Dublin experiencing very dierent conditions to much o the country. Rents

    in Dublin are now 7.5% higher than a year previously, ater registering their ourth consecutive

    quarter o growth. This is the astest rate o rent ination since mid-2007, six years ago, and

    reects tight supply in the Dublin market.

    In the sales market, prices in Dublin are rising while they are alling elsewhere. In the rental

    market, there is a clear dierence between the capital and elsewhere but rents outside Dublin

    are now stable, having risen 0.9% (or 6 on average) in the year to mid-2013. Again, this is about

    supply and demand.

    Over the last year, roughly 3,700 units have been rented out in Dublin each month. Currently,

    there are ewer than 2,400 available to rent in the capital, even as the autumn rush begins.Elsewhere in the country, the 8,600 units available to rent look sucient to meet demand that

    measures typically 6,400 units each month.

    This is relevant or Irelands third-level students, many o whom will be looking or a new place to

    live over the coming weeks. Whereas a group o riends renting a our-bedroom house in Dublin

    may have to ork out between 10% and 15% more than last year, their counterparts attending ITs

    around the country will probably have their rent unchanged.

    But trends in the rental market are o interest to more than just the students. Where it reects the

    underlying strength o demand or accommodation, a rise in rents gives us an insight into how

    dierent parts o the country are aring economically. The graph shows the year-on-year change

    in rents in Dublin and in Waterord city.

    Continued on next page >

    DublinWaterford

    Annual change in rents, Dublin and Waterford cities, 2007-201315%

    10%

    5%

    0%

    -5%

    -10%

    -15%

    -20%

    2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013

    Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1

    Ronan Lyons is an

    economic researcher

    based at Balliol College,

    Oxford, where he lectures

    and is undertaking

    his doctorate in urban

    economics. He is also

    Economist with Daft.ie

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    The contrast is stark not only are rents rising in Dublin, it appears that rent ination is accelerating. In Waterord,

    on the other hand, the all in rents may have stabilised at roughly 3% a year, but rents are still alling. This must

    reect conditions in the local labour market, which was hit hard, not only with the loss o construction jobs, but also

    developments such as the closure o Talk Talk. The numbers signing on to the Live Register in the city have risen rom

    below 5,000 in 2007 to 12,000 today.

    Unlike Cork, with its pharmaceuticals hub, and Galway, with its medical devices sector, Waterord lacks an IDA hub

    around which the local economy can build. Oten the public sector can act as a hub but the parlous state o public

    fnances in this country means that Waterord cannot rely on this any time soon. Much the same is true or Limerick

    and it is worth contrasting Cork and Galway, where rents are rising gently (about 2-3% a year) with Limerick and

    Waterord, where rents continue to all.

    The good news is that the problem is also the solution. Cities like Waterord and Limerick compete with others,

    both in Ireland and abroad, on costs as well as productivity. Low costs o accommodating workers is good news

    rom a competitiveness point o view and as the cost o housing and oce space in Dublin rises, cities like Limerick

    and Waterord will become more competitive, particularly or projects that dont require a central location, such as

    corporate services or back oce unctions.

    So hopeully, as this years crop o students go rom house-hunting to graduating over the next ew years, the

    economic ortunes o Irelands regional cities will have improved.

    Introduction (contd)By Ronan Lyons, Economist with Dat.ie

    A tale o two cities: the rental marketand the wider economy

    3 | The Dat.ie Rental Report, 2013 Q2

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    4 | The Dat.ie Rental Report, 2013 Q2

    Year-on-year change since Q2 2012

    794 | Change: 3.7%

    568 | Change: 0.8%Galway

    551 | Change: 1.2%

    Sligo

    576 | Change: 0.8%

    401 | Change: 0.6%

    533 | Change: -0.5%

    480 | Change: -0.6%

    432 | Change: 0.4%

    Kerry

    577 | Change: 0.6%

    574 | Change: 0.0%

    Cork

    611 | Change: 0.4%

    Waterford

    Meath

    694 | Change: 2.5%

    Cork City

    806 | Change: 1.8%

    Laois

    534 | Change: 1.9%

    Oaly553 | Change: 0.5%

    Limerick

    583 | Change: -0.7%

    Kilkenny

    611 | Change: 1.3%

    Waterford City

    Galway City

    792 | Change: 2.7%

    Mayo

    536 | Change: -1.4%

    Donegal

    502 | Change: -2.0%

    Roscommon

    533 | Change: -1.1%

    Limerick City

    642 | Change: -0.2%

    Clare

    543 | Change: -1.0%

    Wicklow

    860 | Change: 2.3%

    Louth

    624 | Change: 1.7%

    Dublin City Centre

    1,148 | Change: 7.5%

    West Dublin County

    972 | Change: 6.3%

    North Dublin CountyDublinClose-up

    972 | Change: 6.5% North Dublin City

    1,063 | Change: 7.4%

    South Dublin City

    1,203 | Change: 7.7%

    Wexford

    591 | Change: 0.4%

    Carlow

    586 | Change: -3.8%

    Kildare

    Westmeath

    Leitrim

    Monaghan

    Cavan

    Longford

    Tipperary

    558 | Change: -1.3% 591 | Change: -2.7%

    South Dublin County

    1,301 | Change: 8.4%

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    Back to College Special

    Snapshot o accommodationcosts or students aroundthe country

    ege Special

    2013Q2

    Single Room

    Yr/yr

    Change2013

    Q2

    Double Room

    Yr/yr

    Change2013

    Q2

    1-Bed

    Yr/yr

    Change2013

    Q2

    2-Bed

    Yr/yr

    Change2013

    Q2

    3-Bed

    Yr/yr

    Change2013

    Q2

    4-Bed

    Yr/yr

    Change2013

    Q2

    5-Bed+

    Yr/yr

    Change

    Figures given are average rents, based on May-July snapshot of properties for rent

    * denotes too few observations

    Location \ Bedroom #

    Dublin City Centre

    North Dublin City

    South Dublin City

    North Dublin County

    South Dublin County

    West Dublin County

    Cork City Centre

    Cork City SuburbsCork Commuter Towns

    Galway City Centre

    Galway City Suburbs

    Limerick City Centre

    Limerick City Suburbs

    Waterford City

    Maynooth

    Dundalk

    Athlone

    Carlow town

    Tralee

    Castlebar

    Sligo town

    Letterkenny

    433

    337

    377

    311

    391

    288

    286

    256 233

    281

    259

    255

    234

    244

    280

    258

    208

    293

    230

    193

    222

    174

    6.9%

    4.3%

    3.3%

    12.3%

    5.7%

    -2.4%

    -1.4%

    -1.5%-10.7%

    -2.8%

    0.4%

    7.1%

    4.5%

    -0.4%

    -2.1%

    4.9%

    -6.7%

    -2.7%

    15.6%

    -4.9%

    5.2%

    -7.4%

    521

    423

    490

    381

    472

    387

    348

    327 316

    338

    310

    291

    265

    272

    368

    290

    265

    313

    252

    247

    256

    249

    4.4%

    5.2%

    3.6%

    1.1%

    4.4%

    4.0%

    2.4%

    4.1%0.3%

    0.0%

    0.6%

    1.0%

    1.1%

    7.1%

    2.8%

    1.8%

    0.8%

    6.8%

    0.4%

    4.2%

    -3.0%

    7.8%

    897

    771

    889

    772

    927

    832

    629

    622541

    656

    566

    467

    499

    414

    638

    456

    449

    437

    435

    428

    481

    355

    9.0%

    5.5%

    10.6%

    0.4%

    5.9%

    13.8%

    0.6%

    0.2%1.7%

    0.6%

    -1.4%

    -1.5%

    11.4%

    -3.7%

    5.6%

    6.5%

    -4.3%

    -12.9%

    -5.2%

    10.9%

    -0.8%

    -0.8%

    1,228

    1,037

    1,240

    954

    1,211

    965

    794

    808737

    802

    776

    575

    635

    520

    889

    576

    581

    592

    559

    521

    554

    424

    5.5%

    7.2%

    9.3%

    3.2%

    9.7%

    6.5%

    1.9%

    1.5%4.8%

    -3.5%

    4.4%

    -1.2%

    0.0%

    -3.5%

    4.5%

    0.2%

    -2.2%

    0.3%

    0.5%

    3.6%

    -1.6%

    -3.2%

    1,790

    1,256

    1,593

    1,122

    1,496

    1,114

    942

    945840

    1,082

    927

    689

    738

    679

    1,004

    655

    680

    651

    627

    549

    671

    558

    4.7%

    8.8%

    9.6%

    9.5%

    14.4%

    7.3%

    4.3%

    7.4%4.5%

    5.2%

    5.7%

    -0.9%

    -0.5%

    1.3%

    4.0%

    -1.9%

    -0.6%

    -1.1%

    -2.2%

    -0.4%

    -1.3%

    0.9%

    2,193

    1,567

    2,093

    1,577

    2,218

    1,324

    1,212

    1,0761,103

    1,303

    1,065

    894

    866

    794

    1,345

    826

    742

    841

    702

    592

    815

    619

    28.5%

    11.8%

    12.2%

    19.9%

    10.1%

    9.5%

    5.9%

    2.9%10.0%

    4.4%

    9.2%

    5.3%

    -0.8%

    7.2%

    8.4%

    1.0%

    3.2%

    2.3%

    -2.8%

    -4.7%

    3.2%

    1.5%

    2,175

    2,055

    3,180

    3,319

    3,442

    1,678

    1,783

    1,5231,338

    1,580

    1,426

    900

    1,076

    981

    1,388

    *

    825

    *

    779

    *

    1,041

    748

    13.5%

    19.2%

    42.2%

    74.8%

    32.6%

    10.2%

    -2.5%

    0.7%

    5.2%

    9.4%

    8.0%

    -13.0%

    8.2%

    -4.0%

    -2.6%

    3.8%

    5.8%

    15.3%

    8.1%

    5 | The Dat.ie Rental Report, 2013 Q2

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    Rents rise or ourthsuccessive quarterNationally, rents rose by an average o

    1.3% quarter-on-quarter, marking our

    quarters o growth in rents.

    Dublin continues todrive rent increasesWhile rents outside Dublin were 0.9%

    higher annually in Q2 2013, rents in the

    capital were 7.5% higher on average.

    Properties available torent down one thirdNationwide, there were one third ewer

    properties available to rent on August 1st,

    compared to the same date last year.

    .5

    Dat.ie National Rental Index

    4.2%Rents nationally were 4.2% higher on average in the secondquarter o 2013 than a year previously. The average rentnationwide between April and June was 825, comparedto 792 a year previously.

    6 | The Dat.ie Rental Report, 2013 Q2

    Daft.ie National Rental Index(2012 average = 100)

    January

    February

    March

    April

    May

    June

    July

    August

    September

    October

    November

    December

    2002

    133.5

    132.8

    128.5

    131.2

    128.5

    125.8

    124.6

    125.4

    124.4

    121.5

    118.3

    115.9

    2007

    129.1

    130.6

    132.4

    132.8

    134.5

    135.1

    135.5

    133.8

    134.3

    134.0

    128.0

    128.1

    2008

    128.9

    126.3

    124.9

    124.3

    126.2

    125.0

    124.8

    127.2

    126.4

    123.6

    120.4

    117.3

    116.3

    119.4

    119.5

    120.4

    116.3

    114.8

    115.1

    116.3

    115.8

    113.2

    110.7

    110.2

    2003

    110.3

    111.1

    110.6

    111.3

    109.5

    109.3

    111.1

    113.4

    114.1

    113.7

    111.7

    111.5

    2004

    112.7

    114.2

    115.3

    115.4

    113.6

    112.8

    114.3

    116.2

    116.0

    117.3

    117.2

    118.9

    2005

    119.1

    119.5

    120.0

    121.2

    121.9

    122.4

    123.5

    126.6

    128.4

    129.1

    127.3

    127.1

    2006 2010

    101.8

    101.3

    101.2

    100.5

    100.6

    99.9

    99.8

    100.9

    100.5

    100.1

    98.7

    98.4

    2009

    117.1

    114.6

    112.2

    110.2

    108.7

    107.1

    105.7

    105.8

    104.7

    103.2

    101.3

    100.3

    2011

    99.4

    99.8

    99.5

    99.4

    99.1

    98.8

    99.3

    100.3

    99.6

    99.1

    98.5

    98.9

    2012

    99.2

    99.4

    99.3

    99.1

    99.0

    99.0

    99.9

    100.8

    101.0

    100.9

    101.3

    100.9

    2013

    101.5

    101.7

    102.6

    102.6

    103.6

    103.6

    103.7

    Stock of Properties to Rent (start-of-month) & Flow of New Properties to Rent(during entire month), 2007-2008

    NumberofProperties

    Stock Out FlowInflow

    0

    5000

    10000

    15000

    20000

    25000

    2006 II III IV 2007 II III IV 2008 II III IV 2009 II III IV 2010 II III IV 2011 II III IV 2012 II II I IV 2013 II III

    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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    7 | The Dat.ie Rental Report, 2013 Q2

    Dat.ie Snapshot o RentNationwide

    What can I ask or? Can I aford it?Average rents across Ireland, by postcode/regionand bedroom number, Quarter 2, 2013

    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

    893

    1,007

    818

    1,118

    792

    815

    798

    731

    805

    780

    789

    799772

    823

    1,011

    891

    *

    *

    916

    919

    872

    785

    759

    935

    765

    619

    583

    464

    431

    551

    422

    447

    414

    407

    362

    1,113

    1,405

    1,076

    1,427

    1,079

    1,191

    1,145

    1,025

    1,064

    1,017

    954

    939988

    1,041

    1,253

    997

    1,213

    1,046

    868

    991

    915

    942

    915

    1,257

    871

    788

    744

    585

    517

    692

    489

    543

    527

    472

    426

    1,463

    1,867

    1,336

    2,039

    1,225

    1,632

    1,403

    1,266

    1,406

    1,212

    1,051

    1,0781,116

    1,192

    1,492

    1,003

    1,396

    1,100

    820

    1,002

    907

    1,081

    1,072

    1,565

    1,014

    865

    864

    720

    647

    770

    589

    627

    630

    605

    558

    *

    *

    1,650

    2,804

    1,269

    2,275

    1,630

    1,488

    1,506

    1,430

    *

    1,2641,348

    1,407

    1,880

    979

    1,579

    1,220

    686

    *

    963

    1,334

    1,471

    2,320

    1,158

    1,053

    966

    840

    707

    922

    655

    703

    691

    649

    604

    *

    *

    2,000

    4,122

    *

    2,930

    2,596

    1,952

    2,199

    1,673

    *

    **

    *

    2,520

    1,549

    *

    *

    933

    *

    *

    *

    2,345

    2,687

    *

    1,446

    1,132

    917

    785

    1,111

    770

    775

    775

    673

    645

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    Rental trends in DublinFrom Quarter 1, 2006 to Quarter 2, 2013

    8 | The Dat.ie Rental Report, 2013 Q2

    Rent-a-room income trends

    AreaAverage

    rent% Yr/yrchange

    Averagerent

    % Yr/yrchange

    Dublin City Centre

    North Dublin CitySouth Dublin City

    North Co. Dublin

    South Co. Dublin

    West Co. Dublin

    432

    333 374

    308

    387

    288

    6.1%

    3.1%2.2%

    11.2%

    4.6%

    -2.4%

    520

    420 490

    380

    473

    386

    3.8%

    5.3%4.0%

    0.8%

    5.8%

    4.0%

    Vacancy

    1.1

    3.72.1

    4.1

    2.4

    5.4

    Single Room Double Room

    Average rents by region, 2006 - 2013

    Dublin City Centre North Dublin City South Dublin City North County Dublin South County Dublin West Cou nty Dublin

    800

    900

    1,000

    1,100

    1,200

    1,300

    1,400

    1,500

    1,600

    1,700

    2006

    Q1

    2006

    Q3

    2007

    Q1

    2007

    Q3

    2008

    Q1

    2008

    Q3

    2009

    Q1

    2009

    Q3

    2010

    Q1

    2010

    Q3

    2011

    Q1

    2011

    Q3

    2012

    Q1

    2012

    Q3

    2013

    Q1

    2013

    Q3

    West County DublinAverage rent: 972Year-on-year change: 6.3%

    Quarter-on-quarter change: 1.2%Change from peak: -24.2%

    North County DublinAverage rent: 972Year-on-year change: 6.5%

    Quarter-on-quarter change: 1.3%Change from peak: -22.8%

    Dublin City CentreAverage rent: 1,148

    Year-on-year change: 7.5%Quarter-on-quarter change: 1.5%

    Change from peak: -22.4%

    North Dublin CityAverage rent: 1,063Year-on-year change: 7.4%

    Quarter-on-quarter change: 1.7%Change from peak: -23.3%

    South County Dublin

    Average rent: 1,301Year-on-year change: 8.4%Quarter-on-quarter change: 2.2%

    Change from peak: -19.4%

    South Dublin CityAverage rent: 1,203

    Year-on-year change: 7.7%

    Quarter-on-quarter change: 2.1%Change from peak: -19.9%

    Just 20,000 properties were made availableto rent in the frst hal o 2013 in Dublin, comparedto 30,000 in 2011 and 2012.

    Rent-a-room costs continue to rise throughoutthe capital, with the cost o a double-room up4-5% in most areas.

    Compared to their lowest point in late 2010,rents in the capital are now almost 10% higher.

    Rents are rising in all parts o Dublin at about7-8% year-on-year.

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    Rental trends in other citiesFrom Quarter 1, 2006 to Quarter 2, 2013

    9 | The Dat.ie Rental Report, 2013 Q2

    Average rents by region, 2006 - 2013

    Cork City Galway City Limerick City Waterford City

    500

    600

    700

    800

    900

    1,000

    1,100

    1,200

    2006

    Q1

    2006

    Q3

    2007

    Q1

    2007

    Q3

    2008

    Q1

    2008

    Q3

    2009

    Q1

    2009

    Q3

    2010

    Q1

    2010

    Q3

    2011

    Q1

    2011

    Q3

    2012

    Q1

    2012

    Q3

    2013

    Q1

    2013

    Q3

    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

    281

    257

    237

    277

    253

    238

    229

    244

    -3.1%

    0.0%

    -10.9%

    -3.5%

    -1.2%

    0.0%

    3.6%

    1.7%

    348

    327

    317

    335

    308

    290

    262

    274

    3.3%

    4.8%

    -0.3%

    -1.5%

    0.7%

    1.0%

    0.8%

    7.9%

    Vacancy

    9.8

    7.2

    5.5

    3.6

    3.9

    4.4

    7.7

    17.1

    Single Room Double Room

    Cork City

    Galway City

    Limerick CityWaterford CityAverage rent: 642

    Year-on-year change: -0.2%Quarter-on-quarter change: 0.6%Change from peak: -25.6%

    Average rent: 591Year-on-year change: -2.7%Quarter-on-quarter change: -0.2%Change from peak: -29.7%

    Average rent: 792Year-on-year change: 2.7%Quarter-on-quarter change:1.0%Change from peak: -17.7%

    Average rent: 806Year-on-year change: 1.8%Quarter-on-quarter change:0.9%Change from peak: -25.4%

    As in previous reports, rents are rising in Cork and

    Galway cities, while in Limerick and Waterord,they continue to all.

    The contrast is greatest between Galway city,where rents are 18% below 2007 levels, andWaterord, where they have allen 30%.

    Across the our cities, there were 1,850 propertiesavailable to rent on August 1, down rom 2,500a year previously.

    The cost o a double room is static in most urbanareas, although in parts o Cork city, it is up 4-5%.

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    Rental trends outside the citiesFrom Quarter 1, 2006 to Quarter 2, 2013

    10 | The Dat.ie Rental Report, 2013 Q2

    Average rents by region, 2006 - 2013

    Dublin Commuter Counties West Leinster South-East Leinster Munster Connaught Ulster

    2006

    Q1

    2006

    Q3

    2007

    Q1

    2007

    Q3

    2008

    Q1

    2008

    Q3

    2009

    Q1

    2009

    Q3

    2010

    Q1

    2010

    Q3

    2011

    Q1

    2011

    Q3

    2012

    Q1

    2012

    Q3

    2013

    Q1

    2013

    Q3

    400

    500

    600

    700

    800

    900

    1,000

    1,100

    Rent-a-room income trends

    AreaAverage

    rent% Yr/Yrchange

    Averagerent

    % Yr/Yrchange

    Dublin Comm. Counties

    West Leinster

    South-East Leinster

    Munster

    Connaught

    Ulster

    277

    216

    257

    215

    210

    198

    2.9%

    1.8%

    0.5%

    0.7%

    -5.0%

    -7.6%

    340

    252

    292

    251

    257

    231

    3.2%

    -0.5%

    5.0%

    1.2%

    2.6%

    -1.9%

    Vacancy

    8.1

    12.4

    8.2

    10.1

    8.2

    7.2

    Single Room Double Room

    South-East LeinsterAverage rent: 596Year-on-year change: -0.2%Quarter-on-quarter change:0.0%

    Change from peak: -25.1%MunsterAverage rent: 583Year-on-year change:0.0%Quarter-on-quarter change:0.8%Change from peak: -26.6%

    ConnaughtAverage rent: 537Year-on-year change:0.0%Quarter-on-quarter change:0.7%Change from peak: -22.1%

    UlsterAverage rent: 502Year-on-year change: -1.3%Quarter-on-quarter change:0.4%Change from peak: -23.4%

    West LeinsterAverage rent: 535Year-on-year change:0.9%Quarter-on-quarter change:0.2%Change from peak: -27.1%

    Dublin CommuterCountiesAverage rent: 751Year-on-year change:2.8%Quarter-on-quarter change:1.0%Change from peak: -28.2%

    The cost o a room outside the cities is rising

    in many areas, in particular in Leinster,but is alling in Ulster.

    Outside the cities, rents in Connacht and Munsterare stable, while in Ulster they are alling slightly.

    In Leinster, rents are rising in most areas, inparticular in the commuter counties, where theyare 3% higher than a year ago.

    The number o properties available to rentoutside the cities stood at 7,200 on August 1,a all o 31% in a year.

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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.

    11 | The Dat.ie Rental Report, 2013 Q2

    Investor Information: Snapshot of gross yields across the country (and year on year change, in percentage points)

    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

    7.8%

    6.7%

    5.9%

    6.4%

    5.4%

    7.0%

    5.6%

    5.6%

    5.7%

    5.1%

    6.2%

    6.4%

    6.5%5.7%

    7.1%

    5.7%

    0.3%

    0.1%

    -0.3%

    0.6%

    -0.2%

    -0.1%

    0.2%

    0.4%

    0.5%

    0.5%

    0.5%

    0.9%

    0.2%0.6%

    1.0%

    0.4%

    7.7%

    8.6%

    7.3%

    9.9%

    7.5%

    8.1%

    6.1%

    7.8%

    7.0%

    6.3%

    9.2%

    8.3%

    10.6%

    6.2%

    7.4%

    7.1%

    0.6%

    0.5%

    -0.5%

    2.3%

    0.5%

    -1.3%

    -2.2%

    1.1%

    1.6%

    0.9%

    0.7%

    1.7%

    4.0%0.0%

    -1.8%

    0.2%

    7.8%

    7.9%

    6.7%

    7.4%

    6.0%

    8.2%

    7.5%

    7.1%

    7.7%

    6.6%

    8.0%

    8.2%

    7.9%

    7.2%

    7.8%

    7.2%

    0.0%

    0.4%

    0.3%

    0.4%

    0.2%

    -0.3%

    0.3%

    0.6%

    0.3%

    0.9%

    0.8%

    1.5%

    -0.2%0.3%

    0.9%

    0.4%

    8.4%

    6.3%

    5.6%

    6.1%

    5.5%

    7.0%

    6.1%

    6.8%

    6.2%

    5.9%

    6.3%

    6.6%

    7.3%

    6.9%

    8.1%

    6.3%

    0.2%

    -0.1%

    -0.6%

    0.2%

    -0.7%

    -0.1%

    0.1%

    0.5%

    0.3%

    0.6%

    0.5%

    0.8%

    0.3%0.8%

    1.4%

    0.3%

    *

    5.0%

    4.7%

    4.9%

    4.5%

    5.5%

    4.6%

    4.8%

    4.9%

    4.1%

    5.0%

    4.9%

    4.6%

    5.1%

    6.3%

    4.8%

    *

    -0.4%

    -0.3%

    0.5%

    0.4%

    0.4%

    0.5%

    0.1%

    0.5%

    0.3%

    0.3%

    0.3%

    0.1%0.7%

    1.0%

    0.4%

    *

    5.4%

    4.4%

    6.4%

    3.6%

    4.4%

    4.1%

    3.8%

    4.4%

    3.9%

    4.7%

    5.5%

    4.1%

    4.6%

    4.9%

    4.2%

    *

    0.7%

    -0.2%

    2.3%

    -1.6%

    1.3%

    -0.1%

    0.7%

    0.5%

    0.4%

    0.2%

    1.8%

    0.4%0.6%

    1.6%

    0.5%

    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

    432

    333

    374

    308

    387

    288

    277

    216

    257

    215

    258

    234

    244

    204

    265

    520

    420

    490

    380

    473

    386

    340

    252

    292

    251

    331

    276

    274

    244

    322

    577

    431

    585

    372

    595

    467

    445

    262

    310

    324

    329

    351

    1,423

    312

    400

    734

    629

    883

    613

    972

    571

    456

    337

    347

    388

    486

    542

    320

    333

    482

    214

    209

    393

    233

    499

    185

    116

    85

    55

    137

    155

    266

    46

    89

    161

    849

    946

    1,335

    860

    1,227

    768

    622

    428

    495

    523

    676

    848

    435

    443

    545

    329

    526

    845

    480

    754

    382

    282

    177

    204

    272

    345

    572

    161

    199

    223

    -103

    193

    471

    172

    367

    94

    6

    -40

    -54

    57

    87

    338

    -83

    -5

    -42

    4-bed,letting 1double

    4-bed,letting 1doubleand 1single

    *

    1,396

    1,999

    1,471

    2,333

    1,136

    985

    674

    713

    827

    1,037

    860

    772

    640

    786

    *

    976

    1,509

    1,091

    1,860

    750

    646

    423

    422

    576

    707

    584

    498

    396

    465

    *

    643

    1,135

    783

    1,473

    462

    369

    206

    165

    361

    448

    351

    254

    192

    200

    Mortgage repayments are based on the following application: 30 years, 3.6% variable mortgage [average for new business], 90% LTV - since the start of 2013, no mortgage interest relief is applied

  • 7/27/2019 Daft Rental Report Q2 2013

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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 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 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 defnitive

    barometer o the Irish rental market and is being used by the Central Bank, mortgage

    institutions, fnancial 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 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, with a Cooks Distance flter or outliers.

    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 trac 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

    the biggest property websitein Ireland across all demographics.

    12 | The Dat.ie Rental Report, 2013 Q2

  • 7/27/2019 Daft Rental Report Q2 2013

    13/13

    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 right

    to vary our methodology and to edit

    or discontinue the indices, snapshotsor 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

    Marketing & Communications:Kieran Harte

    Layout and Design:

    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 01-4218700

    or urther inormation.

    Coming Next

    The Dat.ie House Price Report2013 Q3In early October 2013

    The Dat.ie House Price Report will be published in early October 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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