Daft.ie

Quarterly increase in Louth rent prices

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Quarterly increase in Louth rent prices

Quarterly increase in Louth rent prices

According to the latest quarterly Rental Report by Daft.ie. rents in Louth were on average 13.5% higher in the first three months of 2018 than a year previously.

The average advertised rent in the Wee County is now €1121, up 84% from its lowest point.

There were 3,086 properties available to rent nationwide in April. This is the lowest number ever recorded for this time of year since the series started in 2006, and the figure marks a 17% decrease on the same date a year previously. In Dublin, there were just 1,265 homes available to rent, one third below the average over the last five years and just one quarter of the average in the period 2008-2013.

Commenting on the report, Ronan Lyons, economist at Trinity College Dublin and author of the Daft Report, said: “Rents have now been rising almost three times as long as they fell in the crash and the increases show no signs of moderating. With the exception of Donegal – where Brexit is having a clear effect on the local market – the problem is countrywide, although it is certainly most acute in Dublin.
"It is clear that, for those who have to look for a new home in the open market, rental inflation remains well above any reasonable measure of health. But as ever, rents are only the symptom. The cause remains a chronic and worsening lack of rental supply. Policy must focus on dramatically increasing the construction of urban apartments over the coming years, in order to meet both the backlog of demand and the country’s needs over coming years and decades.”