The Covid-19 crisis causes changes to rental supply across the country
Rental supply across the country has seen dramatic changes since the lockdown was first announced as seen by the number of rental ads listed on Ireland’s largest property website, Daft.ie. As seen in our last report the number of properties for rent in Central Dublin since the schools closed on March 13th still remain well above the same period last year and are now 75% higher, year on year.
However, the week-by-week figures suggest that this surge may now be easing. While there were three times as many rental properties listed in central Dublin the week of March 15 (compared to a year previously), in the week of the April 5, there were just 16% more properties put up for rent. In numbers, the surge has eased from 170 additional properties in the week just after schools were closed to fewer than 20 additional rental properties in Central Dublin last week.
In the rest of the country, the number of rental listings has been falling and by much bigger percentages. The rest of Dublin had seen 24% more rental listings the week of 15 March (just after lockdown) but saw 16% fewer the week of April 5. Outside Dublin, it had been unchanged year on year March 15 and is now down by 51%.