Average monthly rent prices and annual percentage increases Q2 2018 - Q2 2019
The average monthly cost of a mortgage for a three-bed house in Louth is now almost half the cost of renting the same, according to the Daft.ie 2019 Rental Report, for the second quarter of 2019.
According to the most recent report released today, the average rent for a three-bed house in Louth now stands at €1,181 - almost double the €609 average monthly mortgage repayment for the same house.
Overall in Louth, rents have increased by 5.8% between Q2 2018 and Q2 2019, with average rental prices in Louth now standing at €1,228 per month.
The rate of increase in the county has slowed down however. In the first quarter of this year, rents had increased by 7.6% on the year before.
The average monthly rents in Louth are now as follows:
- 1 bed apartment - €875 - up 4.8%
- 2 bed house - €1,019 - up 5.3%
- 3 bed house - €1,181 - up 4.2%
- 4 bed house - €1,300 - up 4.2%
- 5 bed house - €1,373 - up 0.4%
Rent in the county is now 101.3% higher than at its lowest point during the last recession.
Commenting on the report, Ronan Lyons, economist at Trinity College Dublin and author of the Daft Report, said:
“The slowdown in rental inflation will be welcome news to tenants and policymakers, among others. It is more likely driven by limits to affordability than improved supply, however.
"Availability on the rental market remains at levels that were unprecedented prior to 2015."
To give an idea of the availability of rental properties in Louth at the moment, currently on Daft.ie there are 76 properties in the county available to rent. This is for a county with a population of 128,884 according to the last census.