Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
Rent
Good news for landlords, bad news for everyone else
The Daft.ie Rental report has just been released, and it’s not looking good for renters.
RENTS IN DUBLIN are between 30-40% higher than they were four years ago – and the rest of the country isn’t faring much better.
The Daft.ie Rental report was released this week and its findings are fairly bleak all round.
A big part of the problem is there just aren’t available properties to rent. There were just under 1,000 homes to rent in Leinster (outside Dublin) on 1 August, down from 6,000 a little over five years ago.
Of course, the poor students are going to have a hard time finding anywhere to rent so close to college starting again. Economist Ronan Lyons, author of the report says,
Students are always going to suffer a bit more because they don’t have high incomes.”
While it’s no surprise to find rents on the rise in Dublin, the biggest rental jump is actually in Limerick – with rents increasing by over 24% for a single bed in the last 12 months.
In Galway, rents are higher than at any period between 2006-2008 and most parts of Connacht saw a 2-3% increase in rents in the last 3 months.
In Cork city, rents are up 10%, with the rest of Munster up between 9 and 24.5% from four years ago.
There may be the the tiniest of silver linings thought if you already own a house – you can avail yourself of a €12,000 tax incentive to rent a room out and simultaneously help with the student accommodation crisis – particularly if you live near a university.
Or, if you fancy living in Waterford, you’re in luck – it’s the only place in the country where the cost of a room rental dropped during this period.
have your say