Can you see rents continuing to rise nationwide in 2015?
So many families in smaller homes are prohibited from trading up due to negative equity and are thus choosing to rent a larger home. This compounds the demand for family properties and the lack of stock for sale has resulted in demand for rental properties. I would envisage a 5pc to 10pc rise in rents in the coming year.
As the supply of new property to the market is unlikely to keep up with demand, rental values will continue to rise nationwide throughout 2015. We are anticipating increases of between 5pc to 10pc, depending on the location.
Douglas Newman Good
It is likely that rental values in the capital will rise this year by in or around 10pc. The main reason is an acute shortage of rental accommodation.
The trend of landlords disposing of rental properties will continue this year as many de-leverage their property holdings to meet bank agreements. Also, Receivers continue to dispose of many buy-to-let properties that banks have enforced on.
Many of these buy-to-let properties are being purchased by owner occupiers which continues to put pressure on the supply of rental accommodation.
The situation will be similar in cities such as Cork and Galway where rents are likely to rise by around 5pc to 10pc.
Real Estate Alliance
Due to the current uncertainty in the marketplace in relation to deposit requirements, combined with access to mortgage finance and the shortfall in the supply of new homes, it is most likely that rental values which have increased up to 20pc in some areas of the country over the last 18 months are expected to increase to the tune of 10pc nationally.