With seasonal adjustments the summer months of June & July have traditionally been the months with most available properties to let across Ireland. One of the main reasons behind this is the large amount of student rentals that are available to let over the summer period. During the months of August and September the number of available units should decrease. If we look at the Dublin rental market going by the leading property rental adversing site Daft.ie the number of advertised units in Dublin was somewhere around the mid 3,000’s today it is somewhere around 4,800. That is an increase of over 35%.
So does that mean that with more availability rents are adjusting downwards? Typically not, competition for properties will pick up significantly over the next couple of months and most landlords will hold out to secure the best rent. Also with the recent reports out that rents are increasing however marginal landlords are not willing to reduce. Some however may be to let their property now at a good rate rather than wait the extra month to fill the property.
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by Andreas Riha
