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Rent In The Midlands Up 40% On Peak Of Economic Boom

Tuesday, 12 November 2019 07:54

New figures from daft.ie show an increase of nearly a tenth in the last 12 months alone. 

Rent in the midlands is almost 40% higher than at the peak of the economic boom eleven years ago. 

New figures from daft.ie show an increase of nearly a tenth in the last 12 months alone. 

Westmeath has seen the biggest jump in the midlands last year. 

A 7.7% rise means the average rent in the Lake County now stands at €999 per month. 

Laois is not far behind - the median rent is over €980 for the first time in the O'Moore County. 

Offaly has the second cheapest rent in the whole of Leinster. 

 €915 per month is the average in the faithful county - leaving only Wexford as a more affordable option. 

Nationally, the average is up 5%. 

The most expensive place to rent is in Dublin 4, where average monthly rent is around €2,500, up nearly 100% from it's lowest point almost a decade ago.

Leitrim retains its title as having the cheapest rental market, where tenants can expect to pay around €616 euro per month.

While Limerick saw the largest twelve month growth - prices there went up by 12%. 

Author of the report, Trinity College Economist Ronan Lyons says, despite this increase, rental inflation is at it's lowest level in six years.

He says there are a number of reason for this:

He says the most expensive and cheapest areas have seen increases:

The Irish Property Owners Association says more than 12,400 landlords left the sector between 2016 and 2018.

Margaret McCormick says the State needs to protect the existing supply of accommodation by ending rent pressure zones:

Mr. Lyons agrees that the RPZs are not working:

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