Rent in Louth climbs higher than ever

Rent in Louth is now almost double what it was from its lowest point, according to the Daft.ie Rental Price Report for the first quarter of this year that has just been released

In Louth, rents were on average 7.6% higher in the first quarter of 2019 than a year previously. The average listed rent is now €1206, up 98% from its lowest point.

The average monthly rents in Louth are now as follows:

• 1 bed apartment - €861 - up 6.5%
• 2 bed house - €1,001 - up 7%
• 3 bed house - €1,165 - up 5.6%
• 4 bed house - €1,269 - up 4.7%
• 5 bed house - €1,371 - up 8.2%

The continued increase in rents in Louth and nationwide is being attributed to the lowest ever availability of homes to rent in the country.

In Louth as of this morning there are 82 properties to rent on Daft.ie. This is for a county with a population of €128,884 according to the last census.

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

“The rental market remains plagued by weak supply at a time of strong demand. While the total number of rental homes on the market did improve slightly earlier in 2019, the figures for May have undone all that progress.

"Much of the commentary around new supply for the market is unhelpful, particularly talk of so-called ‘cuckoo funds’ – what in other countries are termed landlords.

"With the sale market showing signs of greater balance between supply and demand, policymakers must maintain their focus on boosting rental supply. A key part of that is developers building, and institutional landlords buying, new apartment blocks.”