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It is not correct to state, as Daft does in its press release, that “nationwide, there were just 716 homes available to rent on August 1st”. It is such a stark and exact figure that it brings its own air of authority. The truth is that it is not known exactly how many homes were available for rent nationally on that date.
I am not suggesting that the figure for off-market transactions is substantial or even material in the grand scheme of things, especially for entire properties. Most likely it is of some material impact only when it comes to assessing the true availability of house shares, which are popular with young people and students, immigrants and transient workers. But off-market tenancies do happen, which means they must also end and are refilled as they become available.
The Daft report attempts to deal with the issue by separately estimating the occupancy rate of the 7,500 MUR homes from public records of registered tenancies. The report suggests just 5 per cent of these units are vacant, and thus, presumably, still available for rent. That means at least a further 375 units may have been available for rent on August 1st but were not captured in the Daft numbers, assuming the 7,500 is accurate. It might be more – there is just no sure-fire way to tell.
Another aspect of reports such as Daft’s that, strictly speaking, may not be misreported or misrepresented, but which is often misinterpreted by the public, is the trajectory of national rents. “Rents rise nationally by 12.6 per cent,” said the Daft report, and also much of the reportage that followed this week.
Still a National crisis no matter what way you marginally adjust numbers
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