Rent prices in Louth continue to climb

Staff Reporter

Reporter:

Staff Reporter

Rent prices in Louth continue to climb

Rents in Louth were on average 18.3% higher in the first three months of 2017 than a year previously, according to new figures released by daft.ie.

The average advertised rent is now €988, up 62% from its lowest point.

Rents rose nationwide by an average of 13.4% in the year to March 2017.

The average monthly rent nationwide during the first quarter of 2017 was €1,131, the fourth quarter in a row that a new all-time high has been set. The rate of inflation represents only a slight slowdown in inflation from the rate recorded in the final quarter of 2016 (13.5%), which was the largest on record.

There were just 3,084 properties available to rent nationwide on May 1st. This is the second lowest number on record, in a series that starts in January 2006. The availability of rental accommodation thus has not improved on the all-time low recorded in May 2016, when 3,082 properties were available nationwide.

In Dublin, the increase in rents in the year to March 2017 was 13.9%. Rents in the capital are now 15.4% higher than their previous peak in early 2008 – an average of almost €225 a month. In Cork, rents rose by 10.4% in the year to March, the tenth quarter of double-digit growth in rents. Rents in Galway saw a similar rate of increase, rising by 10.6% in a year, while rents in Limerick have risen 12.6% in the same period. In Waterford city, rents have risen by 10.2% in twelve months, while outside the cities, rents have risen by 13.2%.