Tuesday 27 September 2016

Rental Market Movement: Cork and Munster

Figure in brackets represents how county ranks nationwide in terms of cost of 'average' home

Published 16/06/2015 | 02:30

Frankfield is the third most expensive place in which to rent, outside the capital, at €1,017
Frankfield is the third most expensive place in which to rent, outside the capital, at €1,017

Cork (5) - Average rents in the Rebel County stand at €776, rising to €858 in the city. More than 31,000 properties are rented, with a three-bed semi-d the most expensive to rent in Rochestown, at €1,009.

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Frankfield is the third most expensive place in which to rent, outside the capital, at €1,017.

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Limerick (8)

Rents have fallen across the county by 9.5pc to €627, but less in the city - a home costs €630, down 3.5pc compared with five years ago.

A starter home in Newcastle West costs €530 per month, rising to €718 in Dooradoyle in the city. With a major regeneration programme under way, rents are expected to rise.

 

Waterford (13)

Rental prices in the city and county have dropped by 11.5pc - a home now costs €542, and €540 in the city.

The cheapest place in the country in which to rent is the Inner Ring Road in Waterford. Prices of apartments have dropped by 65pc since 2010 - by far the sharpest fall nationwide.

 

Kerry (15)

Rental prices have dropped by 8.5pc in the Kingdom, down to €538. And while a three-bed semi-d averages at €572, there are stark differences between the cheapest and most expensive.

In Listowel, a home can be secured for €513 per month - but that rises to €637 in Killarney, a difference of almost 25pc.

 

Tipperary (17)

Rental prices for a two-bed apartment have dropped by up to 15pc in Thurles, while the overall decline is 11pc, to €533.

Clonmel is the most expensive town in which to rent, where a three-bed semi-d costs €643, compared with a county average of €572.

A two-bed apartment costs €576, over €100 more expensive than the average.

 

Clare (19)

Rental costs have dropped by up to 14pc across Clare, with the average home now costing €511 per month.

A three-bed semi-d costs €532 in the county town of Ennis, down 12pc, while a two-bed apartment is €464, down 11pc. However, a two-bed apartment is more expensive in Shannon, at €559, down 7pc.

What's the real cost of renting in your area?

Irish Independent

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