Modelling Irish Rents: Recent Developments in Historical Context

Gerard Kennedy, Lisa Sheenan and Maria Woods
Additional contact information
Gerard Kennedy: Central Bank of Ireland
Maria Woods: Central Bank of Ireland

No 14/EL/16, Economic Letters from Central Bank of Ireland

Abstract: In recent years Ireland experienced strong growth in residential rents. To characterise current conditions in this market, this Letter investigates the dynamic behaviour of real Irish rents by applying two models to data from the 1980s/1990s. First, employing a univariate non-linear approach, average quarterly growth rates are benchmarked relative to historical trends. The results show that national rents move between high-growth and low-growth periods from the 1990s. From 2013 to 2016Q1, Irish rents are found to be in a high-growth regime. This Letter also models national real rents using quarterly data from 1985Q1 to 2016Q1. Employment and housing stock per capita are found to influence long-run rents over the sample. From end-2013, rents are found to be higher that would be expected by these long-run relationships.

Date: 2016-11
New Economics Papers: this item is included in nep-his and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://centralbank.ie/docs/default-source/publica ... 6-no-14.pdf?sfvrsn=6 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbi:ecolet:14/el/16

Access Statistics for this paper

More papers in Economic Letters from Central Bank of Ireland Contact information at EDIRC.
Bibliographic data for series maintained by Fiona Farrelly ().