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Rental Prices In The Midlands Continue Upward Trend

Tuesday, 10 August 2021 06:47

Rents nationally have shot up by an average of 5.6% in the last year.

Rental prices in the midlands are on the rise once again. 

The latest quarterly report from Daft.ie shows Offaly has seen the biggest spike of 3.5% and an average of €1,045  euro being charged per property. 

Westmeath is up next with a jump of 3.2% over the last three months, which is almost 10% more expensive than this time last year. The average cost of renting a property in the Lake County is €1,117. 

Laois has seen a slower incline of 2.6% but is in keeping with it's midlands neighbours, averaging at €1,084. 

Rents nationally have shot up by an average of 5.6% in the last year.

Daft.ie says a lack of supply is driving up the cost of rents.

According to its website there are just 46 properties in the region available to rent. 

Westmeath has 25 homes to let, with 11 in Offaly and 10 in Laois. 

In July, new legislation linking rent increases to the rate of inflation was introduced in a bid to curb rising rents.

Castlepollard's Pat Davitt, Chief Executive of Institute of Professional Auctioneers and Valuers, says Government needs to do more to prevent landlords from exiting the market:

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