Letting in Waterford City

[Thomas1]

Hey Guys, I'm thinking of buying a 3/4 bed house in Waterford City as an investment and was just wondering if anybody knew what the rental market was like there? I'm assuming it's fairly bouyant considering there's a hospital and a college there but I don't have much personal knowledge of the city. I see on DAFT that the monthly rent seems to be around €750 but does anybody know if property actually moves at this rate and how long the vacant periods are?

Thanks

Tom

 

[bacchus]

Hey Guys, I'm thinking of buying a 3/4 bed house in Waterford City as an investment and was just wondering if anybody knew what the rental market was like there? I'm assuming it's fairly bouyant considering there's a hospital and a college there but I don't have much personal knowledge of the city. I see on DAFT that the monthly rent seems to be around €750 but does anybody know if property actually moves at this rate and how long the vacant periods are?
Thanks
Tom

Are you had a look at the reports that Daft produce every quarter, under daft news? you should find average price of rent and time to let information.
I just add a quick look at their 4Q2005 report, and while it does not cover Waterford specifically, there is a section for "rest of the country", basically not Dublin, Dublin communter belt, Cork, Limerick, Galway
Worth a read..

 

[Lorz]

I would recommend the Dunmore Rd - close to the hospital and on the bypass in minutes. Ardkeen area is growing all the time - plenty of services - shops, bars, etc. The Uluru seems to be quite popular with young rentals too. Check out Ardkeen Village estate - good houses, relatively new and walking distance to hospital. Viewmount is an older estate but larger houses with garage which could also be converted to an additional bedroom.

Rohan Auctioneers might be able to advise of rental market.

 

[gearoidmm]

I was renting in Waterford last year and living on the Dunmore road. There was no shortage of properties to let and rents were very cheap. We had a 3-bed for 600/month and the average was roughly 700. Some apartments in town were asking for more.

Most of the houses on the Dunmore Rd seemed to be let to people working in the hospital.

Traffic is really bad on that road in the mornings when the schools are back - something to consider as even 1/2 mile out from the hospital can take 20mins to get to the hospital in the mornings, so some of the further out estates may not be as desirable.

Hope that helps

 

[Lorz]

We looked at buying in an older estate on the Dunmore Rd - opposite Viewmount which had a small shop in the estate - can't remember the name but houses were about 15-20yrs old and the estate seemed to have a lot of problems with natural springs. Get a good engineer. Good luck.

 

[beattie]

Would have thought the rental market was very slack down there. Know of someone living in the Glenville estate on the Dunmore Rd in which only two of the four bedrooms are let for the past year or so. Also no shortage of apartments going up, many of which should be onstream later this year in the city centre.