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Dublin: 12 °C Friday 15 February, 2019
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This week’s vital property news: Rents on the up and house prices on the down

Everything you need to know in one quick guided tour.

House Sign2

THERE HAS BEEN contrasting news in the housing market this week depending on whether you are renting or buying.

While there has been a fall in house prices that seems to have come from the Central Banks’s mortgage rules, things have been getting more expensive for renters.

The Big Movers

Rising rents 

New figures released by the Private Residential Tenancies Board for the final quarter of 2014 found that rents went up quite a bit in 12 months.

In the capital there has been an increase of 9.6%, with this figure sitting at 5.8% for the rest of the country.

On average, a person can now expect to pay €1,301 a month to rent a house in Dublin, and an average of €829 outside the capital.

The ERSI predicted that rental conditions could likely get worse, with the Central Bank’s new rules – which limit the amount that can be borrowed relative to the deposit paid – making it so that less houses get built than otherwise would.

ersi Kieran McQuinn (right) and other representatives from the ERSI. Source: Sasko Lazarov/Photocall Ireland

Falling prices 

Believe it or not – house prices are actually starting to come down.

New figures from the Central Statistics Office show that prices came down by 0.4% across the country last month. In Dublin prices have come down by 2.4% since the start of December.

Despite this trend, prices are still went up over the previous 12-month period – due to big growth in the second and third quarters of last year.

chart While the 12 month period has shown overall increases - prices have come down since December Source: CSO

Under Construction

brian o'donnell Brian O'Donnell at the High Court earlier this week Source: Sam Boal/Photocall

  • Brian O’Donnell and his family have been granted permission to stay at their Gorse Hill mansion in Killiney for another three weeks.
  • Plans have been unveiled for the derelict baths in Dun Laoghaire that will involve an overhaul of the area.  

baths How the area around the derelict Dun Laoghaire baths will look

  • The Irish State is set to face a human rights case over the condition of 20 different housing estates around the country. 

Des Res

If it was good enough for Charlie Haughey it should be good enough for you. A private island, called Little Bokeelia Island, has come onto the market for $24.5 million (€22.45 million) in Florida and all serious offers are being considered until the end of April. The property comes with its own four-bedroom Spanish-villa style home, Business Insider has reported.

This week’s vital property news: Rents on the up and house prices on the down
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  • Florida Island Paradise

    Source: Business Insider
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  • Florida Island Paradise

Finally…

One place you would not expect to go for a fresh water swim would be the centre of London. However, soon enough, you are going to be able to do exactly that as part of the redevelopment of the city’s King’s Cross area.

The pool will be cleaned using natural submerged plant life rather than chemicals. The project is beginning to take shape and is set to open next month. 

king's cross swimming pool How the project currently looks Source: Ooze Architects

Read: Apartments are €115 more expensive in Dublin than this time last year     

Also: House prices are actually falling all over the country

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