Market rents in Leitrim continue to soar amid falling availability of homes
Daft.ie has released its quarterly report on rental prices across the country, with Leitrim standing out among its bleak findings.
Daft.ie's latest quarterly report on the country's rental market shows a continued escalation in rent costs in Leitrim and across Ireland.
According to the report, market rents in Connacht have increased 7.7% year-on-year, down from an inflation rate of over 21% in 2023.
In Leitrim, market rents were on average 13.5% higher in the third quarter of this year in comparison to last year.
Listed rents in the county have increased by a staggering 94% from the level prevailing during the COVID-19 pandemic, with the average rent now €1,161.
As the report states, the continuous increase in rent costs reflects the extremely tight availability of rental properties. At the start of this month, there were just over 200 homes available to rent in Connacht which is down 22% year-on-year and less than half of the late 2010s average.
Meanwhile, across the country there were just over 2,400 properties available to rent which is down 14% on the same date in 2024 and almost half of the 2015-2019 average of 4,400.
According to Daft.ie's report, the number of homes available to rent on the open market is decreasing after 18 months of improving availability.
This is the fifteenth consecutive quarter in which rents have increased across the country, with market rents rising an average 1.7% in the third quarter of this year.
While Dublin continues to experience soaring rents, other cities such as Galway, Cork, Waterford and Limerick are also seeing major increases.