Rent continues to climb in Louth

Just 38 properties in Dundalk to rent

Donard McCabe

Reporter:

Donard McCabe

Rent continues to climb in Louth

Rent continues to climb in Louth

Rents rose in Louth by an average of 17.5% in the year to June 2017, according to the latest quarterly Rental Report by Daft.ie.

The average advertised rent in Louth is now €1,024, up 54% from its lowest point.

Rents rose nationwide by an average of 11.8% in the year to June 2017 according to the report, suggesting the situation in Louth is not yet improving.

As of this morning, the number of properties available to rent across all of Louth is 104, just 38 of them in Dundalk.

These figures come at a time when rental accommodation comes under increased pressure in Dundalk, with the new college year about to begin in the next few weeks.

As reported by the Dundalk Democrat yesterday, the availability of student accommodation in Dundalk is hitting crisis levels.

Commenting on the Daft report, Ronan Lyons, economist at Trinity College Dublin and author of the Daft Report, said:

'The start of the academic year in September traditionally meant that July and August are two of the busiest months for the rental market each year.

'In the last two years, however, there has been no summer rush of properties to rent. In a market with such chronically deficient supply, it is therefore unsurprising to see rents reach a new high.'

These comments could be seen to reflect the current situation in Dundalk, with regard to availability of rental properties in the town.