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Average rent for new Donegal tenants nearly €600 13.02.18

RENTS in Donegal rose by 3.9% in the final three months of last year with the average cost for new tenants now sitting at €599 a month.
This is a rise of 23% from the lowest point during the recession, according to Daft.ie which analyses advertised rents.
Landlords have stressed that the prices don’t reflect rents paid by their existing tenants.
Rents rose nationwide by an average of 10.4% in the year to December 2017, according to the latest quarterly Rental Report by the company. The average monthly rent nationwide in the run-up to Christmas was €1,227, the seventh quarter in a row a new all-time high has been set.
The annual rate of inflation represents a slowdown in inflation from the rate recorded in 2016 (13.5%), which was the largest annual increase on record, the report found.
There were 3,143 properties available to rent nationwide on February 1, 2018.
“This is the lowest number ever recorded for this time of year since the series started in 2006, and the figure marks a 15% decrease on the same date a year previously. In Dublin, there were fewer than 1,350 homes available to rent, compared to almost 6,700 on the same date in 2009,” the report continued.
Last year marked the fourth consecutive year of double-digit gains in rents nationwide. The report found that at least 40,000 new homes a year are needed to meet current demand, but well below 20,000 homes were built in 2017.
Rents in the last quarter of 2017:
• Dublin: €1,822, up 10.9%
• Cork: €1,180, up 7.7%
• Galway: €1,096, up 12.4%
• Limerick: €1,004, up 14.8%
• Waterford: €835, up 12.1%
• Rest of the country: €860, up 9.8%
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