Louth rents double in eight years
Rents in Dundalk are now double what they were eight years ago, according to the Residential Tenancies Board Rent Index for Q1 2022, released this week by the Residential Tenancies Board (RTB).
The standardised average rent in new tenancies in Louth in the first quarter of this year stood at €1,279 per month. In the third quarter of 2014, they stood at €636 per month, almost half their current price. The current standardised rent in Louth represents an annual increase of 7.6%, or €90. On a quarterly basis, it represents an increase of €57 or 4.6%.
At a Local Electoral Area (LEA) level, the most expensive rents are in Dundalk South, at €1,388.85 per month. This is followed by Drogheda Urban at €1,343.27 and then Dundalk Carlingford at €1,157.87. No figures were provided in the report for the Drogheda Rural or Ardee LEAs.
Nationally, the standardised average rent in new tenancies now stands at €1,460. In Dublin it is €2,015 and outside of Dublin it is €1,127. Among the main findings in the quarterly report, it says that the number of newly registered tenancies has declined on a year-on-year basis by 32 per cent in Q1 2022, with the level dropped to 10,414 new tenancies from 15,291 in the same quarter of the previous year.
The purpose of the Rent Index is to measure developments in the prices faced by those taking up new tenancies in the private rental sector. It does not provide a measure of the rental prices faced by existing tenants. The RTB Rent Index is produced by the ESRI based on anonymised data supplied by the RTB. It is the most accurate and authoritative rent report of its kind on the private rental sector in Ireland.
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