Louth rents have gone up by an outrageous amount this year

Ian Cameron

Reporter:

Ian Cameron

Email:

ian.cameron@dundalkdemocrat.ie

Louth rents have gone up by an outrageous amount this year

In Louth, rents were on average 15.2% higher in the third quarter of 2016 than a year previously. The average advertised rent is now €913, up 50% from their lowest point.

Rents in Louth were on average 15.2 per cent higher in the third quarter of 2016 than a year previously. The average advertised rent is now €913, up 50 per cent from their lowest point.

The rate of increase is 3.5 per cent higher than the national figure, itself a record increase. 

Rents rose nationwide by an average of 11.7 per cent in the year to September 2016, according to the latest quarterly Rental Report. 

This is the largest annual increase in rents ever recorded in the Daft.ie Report, which extends back to 2002. In addition, at €1,077 in the third quarter of the year, the average monthly rent nationwide is at a new all-time high.

In Dublin, the annual rate of inflation in rents, in the year to September 2016, was 12.1 per cent, its highest late since late 2014. Rents in the capital are now 9.3 per cent higher than their previous peak in early 2008. In Cork, rents rose by 14.4% in the year to September, a slight easing of inflation compared to earlier in the year.

Rents in Galway are 10.9 per cent higher than a year previously, while rents in Limerick have risen 13.2 per cent in the last year. In Waterford city, rents have risen by 11.2 per cent in twelve months, while outside the major cities, the increase has been 10.9 per cent.