College students face
heading off to third level education are facing big
accommodation challenges in college towns including
high rents and lack of supply.
The national average rent between April and June was
934, compared to 860 a year previously, according
to the latest rental report by Daft.ie.
And for the first time, rental inflation outside
Dublin - at 8.7% - is greater than in the capital.
Across the four other major urban centres, inflation
in rents is also close to 10%, varying from 8.2% in
Waterford and 8.9% in Limerick to 10.1% in Galway
city and 10.4% in Cork.
Rental stock also remains extraordinarily tight with
just 4,600 properties available to rent nationwide
on August 1, 2015, compared to 6,800 on the same day
a year previously, said Daft.
By comparison, on August 1, 2009, there were over
23,000 properties available to rent nationwide.
Supply in the Dublin market has now been tight for
nearly three years, with fewer than 2,000 properties
on the market on average since late 2012.
In the three Ulster
counties, rents rose by an average of 5.6% in the
year to March 2015, compared to largely stable rents
a year previously. In Donegal, rents were on average
3.7% higher in the second quarter of 2015 than a
year previously. The average advertised rent is now
515, up 6% from their lowest point in 2013.
Daft.ie economist Ronan Lyons said: As students
prepare for entering higher education, or returning
from their summer break, they will find conditions
every bit as tight as a year ago in Dublin and in
some places in the country even tighter," he said.
Year-on-year changes in rents in the major cities:
Dublin: 1,368, up 8.5%
Galway: 818, up 10.1%
Cork: 889, up 10.4%
Limerick: 718, up 8.9%
Waterford: 629, up 8.2%