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Brexit having 'clear effect' on Donegal rents 04.05.18

DONEGAL is an anomaly in relation to the latest report on soaring house rental prices nationwide.
Rents are "largely stable" in Donegal with the average advertised price now at €594 a month.
Donegal registered a relatively modest 0.3% rise in the year to last October compared to a nationwide average of 11.5% in the year to March 2018. The disparity, is being blamed on Brexit, as noted in the latest Daft.ie rental report.
The report shows an eighth consecutive quarter where annual inflation in rents has been greater than 10% and also that a new all-time high has been set.
The average monthly rent nationwide during the first quarter of 2018 was €1,261. This represents a monthly increase of €232 (€2,784 a year) compared to their previous peak in 2008.
In Dublin, the increase in rents in the year to March 2018 was 12.8% and rents in the capital are now 30%, or €430 a month, higher than their previous peak a decade ago.
Rents also continue to rise rapidly in other cities. In Limerick city, rents were 17.1% higher than a year ago, while in Waterford, the increase was 14.6%.
Galway saw its rents increase by 13.6% in the same period, while in Cork, rents rose by 9.3%. Outside the five main cities, rents rose by an average of 10.1%.
There were 3,086 properties available to rent nationwide in April. This is the lowest number ever recorded for this time of year since the series started in 2006, and the figure marks a 17% decrease on the same date a year previously.
Report author Ronan Lyons said: “Rents have now been rising almost three times as long as they fell in the crash and the increases show no signs of moderating. With the exception of Donegal – where Brexit is having a clear effect on the local market – the problem is countrywide."
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