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Rents Continue To Soar As Midlands Average Rises To €1,109 Per Month

The latest daft.ie report also shows stock is plummeting.

The average rent in the midlands has risen to €1,109.

The latest report from daft.ie shows costs have increased by approximately 10% since this time last year.

On November 1st, there were just 1,460 homes available to rent in Ireland.

That's down 65% on the same date last year and the lowest rental stock figure seen in a series that dates back to 2006.

The picture is just as bleak in Leinster - where 232 properties were available to rent outside of Dublin.

The cost of rent in the midlands continues to rise, according to daft.ie's figures for Quarter 3 of 2021.

Offaly recorded the largest jump, where the average rent is now €1,076 - up 10% on this time last year.

Prices in Westmeath increased by 9% to €1,143 and Laois renters are forking out an average of €1,108 per month - 7% more than in 2020.

Each of the three counties recorded an increase of between 2% and 3% since last quarter.

Author of the report, Ronan Lyons says:

"Covid-19 temporarily reshuffled Ireland’s rental problems but the latest figures confirm those problems of shortages are getting worse over time."

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