Sunday 4 December 2016

The cheapest county to the most expensive - 10 things you need to know about the latest rental report

Cian Murray

Published 08/11/2016 | 11:38

(Stock photo)
(Stock photo)

Daft.ie released their latest quarterly report earlier today, detailing the worrying trend of rising rents throughout the country.

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They also shared where the cheapest and most expensive areas were and what trends have taken over the country. Here are some of the highlights from the detailed report:

1. The annual rate of rental inflation in Ireland is now 11.7 per cent, the highest recorded by the Daft.ie Report since its series start in 2002.

2. The average nationwide rent is €1,077.

3. In both Dublin and in the rest of the country, the increase in rents between July and September was 3.9 per cent, matching the largest quarterly increase on record.

4. The county with the lowest average rent prices is Leitrim - €504. However, if you're going to move there you better do it quickly as rent rose by 7.4 per cent this year.

5. Unsurprisingly, Dublin has the highest rent prices. The South County is the most expensive part of the capital, with rents averaging at €1,801. Rent in the city centre averages out at €1,575 while average rent in the North County is €1,320.

6. Rents for a three-bedroom home in Dublin 8 have risen dramatically and now stand at €1,800 a month, 10 per cent higher than the previous Celtic Tiger peak.

7. There were fewer than 3,700 homes to rent nationwide on October 1st, 12 per cent fewer than on the same date a year previously.

8. Rents are now five per cent higher than their 2008 peak. They have risen by 45 per cent since bottoming out in late 2011.

9.  In Dublin, rents are now an average of 9.3 per cent above their previous peak while in Cork and Galway cities, rents are 8 per cent and 14 per cent above levels recorded eight years ago.

10. Outside the cities, the average rent is now just 1.8 per cent below the previous peak.

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