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15% Year-On-Year Increase In Midlands Rent

Thursday, 12 September 2024 17:34

Laois saw one of the largest increases in the country, according to a new report.

The average rent for new tenancies in the midlands has climbed by nearly 15% year-on-year.

That's significantly more than the average national increase of eight percent, with rent now setting new tenants back around 1,160 euro in the region.

The Residential Tenancies Board's report for the first quarter of the year shows Laois has seen one of the largest increases in the country, when compared to the same time last year, at 19%.

Rosemary Steen, Director of the RTB, says it's also publishing a second set of data today:

The RTB also says initial findings show most landlords are sticking to Rent Pressure Zone rules.

It has taken a sample of nearly 153,000 tenancies, which it and the ESRI examined between 2022 and early this year.

About 74% of tenancies analysed saw landlords applying increases within the Rent Pressure Zone rules.

Ms. Steen says there are valid reasons why some landlords increased rents above the 2% annual limit:

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