The Irish rental market Q2 2021
The price of rent has increased 16% in just one year according to Daft.ie
With rental properties at an all time low around the county, the average listed rent is now €695, up 69% from its lowest point.
The large increase in the price of rent is much higher than the national average increase of 5.6% and event the average increase of 15.1% in Connacht.
In this province just 102 homes were available to rent on August 1, down over 60% compared to a year ago.
The monthly price of rent in Leitrim still remains much lower than the national average of €1,477.
The average rent in Donegal is €744 Longford €812, Roscommon €829, Cavan €855 and Sligo €883.
Daft.ie have just SEVEN rental properties in the county available for rent.
Nationwide, there were just 2,455 homes available to rent on August 1st, an all-time low in a series that extends back to January 2006.
On average over the past fifteen years, there have been nearly 9,400 homes available to rent at any one time, while the 2015-2019 average was almost 3,900.
Commenting on the report, Ronan Lyons, economist at Trinity College Dublin and author of the Daft Report, said: “As the impact of Covid-19 on daily life begins to recede, the underlying issues facing Ireland’s rental sector are re-emerging.
“It is a sector facing unprecedented shortages, with extraordinarily tight supply.
“This cannot be solved by trying to regulate prices. It can only be solved by adding significant amounts of new supply – and not only in Dublin.”
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