The website provider’s comments are upbeat, but any increases shown in its statistics have occurred since December only and are at levels of less than 1%. This comes after a four-year period during which rents slipped by more than 6% annually.
The Dublin market is now fluctuating wildly, with rents sticking, rising or falling, depending on location.
Comparing the last quarter of 2004 with that of 2003, the Daft report shows rapid growth in areas such as Howth (more than 30%) and Dun Laoghaire (10%).
On a less optimistic note, rents fell by more than 10% in Milltown, while Rathgar and Ranelagh fell in single figures, perhaps an unexpected side-effect of Luas.
Why should tenants pay high rent premiums for being close to town (in areas such as Milltown and Ranelagh) when they can now live further out (for example, in Sandyford) and pay less rent but with little impact on their travel times? However, the blue-chip reputations of these areas for trophy-home purchases mean values are unlikely to be affected.