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Over 15% Rise In Midlands Rent Prices

Thursday, 10 August 2023 06:46

Nationally, rent rose by 10% this quarter.

Rent across the midlands increased year-on-year by over €225 on average.

According to Daft.ie's Rental Price Report for quarter 2 of this year, average rent in the region is just over €1,400.

The most expensive rent in the midlands region is in Westmeath, with an average rent of €1,476 - that's an increase of 16.4% from the same period last year. 

Offaly is the next highest at €1,399, an increase of 17.2% and in Laois the average cost of rent is €1,372 which is a rise of 14% year-on-year. 

Nationally rental prices rose by 10.7% in quarter 2 of this year, making it the seventh consecutive quarterly increase by double digits.

However, figures are showing a slowing down in increasing prices when compared to mid-2022. 

The lowest price average in the country was in county Leitrim at €1,014, while the largest average is in South Dublin, at €2,601. 

More significant rent rises can be expected within the next year, despite an already near 16 percent hike in the midlands.

Economist and author of the report, Ronan Lyons says while the increases won't be as extreme, prices won't be falling:

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