Survey Reveals Shocking Extent Of Rental Price Hikes Over The Past Year
You'd have to be living under a rock somewhere not to know that rent has surged in recent years. The housing crisis has dominated newspapers headlines, with people finding it increasingly difficult to rent homes at an affordable price.
A new report shows that rent in Ireland has shot up by almost 10% during the past year. Figures by the Residential Tenancies Board (RTB) showed that the national standardised rent has surged - people renting new tenancies are paying just under €100 more per month compared to last year.
Anyone renting new tenancies in Ireland paid an average of €965 in the third quarter of 2016, a figure which has grown by 9.5% the past year - tenants are now paying €1,056 per month.
Dublin unsurprisingly took the brunt of the hit. The average rent in the capital was at €1,518, while the likes of Wicklow, Kildare and Meath was slightly above the average at €1,086. The average rent was €811 outside of the Greater Dublin area.
The counties where rent costs more than €1,000 per month in the third quarter of this year are:
- Wicklow - €1,152
- Kildare - €1,114
- Galway - €1,083
- Cork - €1,026
The lowest monthly figures were found in:
- Leitrim - €487 per month
- Longford - €534 per month
- Donegal - €545 per month
- Roscommon - €549 per month
- Cavan - €571 per month
The report is based on data from all new tenancy agreements registered with the RTB. In all, 29,528 new tenancies were registered in the third quarter- an increase of over 6,000 registrations since the last quarter.