Sunday 21 January 2018

Rental market movement: Dublin and Leinster

The average cost of renting in Dublin stands at €1,142 per month, up 5.5pc - the highest increase in the country
The average cost of renting in Dublin stands at €1,142 per month, up 5.5pc - the highest increase in the country

Details of the rental market movement in Dublin and Leinster

(Figure in brackets represents how country ranks in terms of cost of average home)

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Dublin (1)

The average cost of renting in Dublin stands at €1,142 per month, up 5.5pc - the highest increase in the country.

But prices for a three-bed semi-detached home range from €890 in the seaside town of Balbriggan, where rents have fallen, to €2,110 in Dublin 4. Some 113,000 homes are rented, almost 40pc of the national stock.

Wicklow (2)

The rental market in Wicklow is quite small, just under 7,000 units, and the average price is €877, a drop of 3pc.

Families are drawn to the seaside at Greystones, where prices are highest for a three-bed semi-d at €1,229 per month. The cheapest location is Arklow.

Kildare (3)

There has been no change in average rental costs in Kildare, home to major employers including Maynooth University, Intel and Hewlett Packard.

A home costs €836 per month, but a three-bed semi-detached has dropped 1pc to €866.

Rents are up in some parts, including Kildare town and Leixlip (7pc each). Maynooth is the most expensive town in which to rent, at €1,029.

Meath (6)

Rental prices have dropped by an average of 2pc, down to €719. Dunboyne is most expensive for a three-bed house, at €1,035, while a two-bed apartment costs €811 in Ratoath. Almost 7,300 homes are rented in the county, which is well-served by the M3 motorway to Dublin and the border.

Louth (7)

There's a stark difference between renting in Louth and neighbouring Meath, some €80 per month, despite the county being well-served by a road and rail network.

The average cost is €639, with Drogheda the most expensive town. A three-bed semi-d costs €717 per month, compared with €628 in Dundalk.

Kilkenny (9)

The average rent in Kilkenny is €615, a 5.5pc drop.

But this increases to €623 for a three-bed semi-d in the city, the most popular accommodation.

It's cheaper to rent a two-bed apartment in the county, at €600 per month. However, the rental market is focused in the city.

Carlow (10)

The rent for an 'average' home stands at €597, an 8.5pc drop.

Landlords owning three-bed semi-ds have been badly hit in recent years - a home now rents for €606 per month, down 12pc, and is even lower in the towns of Carlow and Tullow.

This is despite a student population of more than 5,300 in Carlow IT, many of whom would require accommodation during term-time.

Wexford (12)

Average rents have dropped by 12pc to €546 per month, with two-bed apartments in Enniscorthy badly-hit - down 15pc to €442.

The cost of renting a three-bed home stands at €588, rising to €622 in Kilmuckridge, also known as Ford.

There is no data available on rental costs here from 2010, as fewer than 30 were rented.

Laois (14)

Rents have fallen 4.5pc in Laois, down to €541. But prices for apartments have fallen by far more, down 12pc in Mountmellick for a two-bed at €429, and 11pc in Portarlington to €438.

A three-bed semi-detached home costs €564 on average, but is at a low in Mountmellick at €518.

Westmeath (16)

Rental prices have dropped between 7pc and 9pc, with an average home now costing €537.

The most expensive town in which to rent is Athlone, at €558 for a three-bed semi-d. Interestingly, the same property in Athlone, but with a Roscommon address, fetches almost €40 more per month.

Offaly (18)

The average cost of a home is €532, rising to €561 for a three-bed semi-detached. The lowest prices are in Clara, and the highest in Edenderry and Tullamore.

Two-bed apartments have dropped by 6pc across the county, and now cost €495 per month.

Longford (26)

The cheapest county in the country in which to rent a home, average prices stand at €407, a drop of 16pc.

A three-bed semi-d costs €423, rising to €435 in Longford town and falling to €383 in Edgeworthstown, while a two-bed apartment is €350 on average.

Irish Independent

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