Thursday, January 2, 2014

2/1/2014: 'Rip-off Ireland' and Local Authorities' Rents

H/T to @SeamusCoffey for flagging the following chart from the CSO:

Two things of note:

  1. The 'deleveraging' of costs in Ireland (remember the 'competitiveness gains' meme?) is obviously not touching state-controlled rents that remain at the levels compatible to those in early 2008, while private rents index is running around early 2006 levels; and
  2. Since 2011 - when the current Government (led by the 'rip-off Ireland' opponents from the FG) came to power - Local Authority Rents are back on the rising trend.
Here is the same CSO data charted in its full glory and rebased to 100 = average for 2003

  • Actual Rentals (Housing and Mortgage Interest inclusive) down 8.28% in Q4 2013 compared to Q1 2007 average
  • Actual Rents Paid by Tenants are down 2.32%
  • Private Rents are down 6.61%
  • Local Authority Rents are up 25.97%
You know... 'protecting the worst-off' thingy etc, etc, etc...

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