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Rents in Donegal rise by 6.9% 12.11.19

IN Donegal, rents were on average 6.9% higher in the third quarter of 2019 than a year previously. The average listed rent is now 671, up 38% from its lowest point according to the latest quarterly Rental Report by Daft.ie.
In the three Ulster counties, rents rose by an average of 6.8% in the year to September 2019 and are now 17% above their previous high in early 2008.
Rents rose by an average of 5.2% nationwide in the year to September 2019. This marks the lowest rate of rental inflation across the country since the second quarter of 2013. However, at 1,403, the average monthly rent nationwide during the third quarter of 2019 marks the fourteenth consecutive quarter of record rents. The average listed rent is now 373 per month higher than the previous peak in 2008 and almost 660 higher than the low seen in late 2011.
Rents in Donegal were on average 6.9% higher in the third quarter of 2019 than a year previously. The average listed rent is now 671.
The number of homes available to rent nationwide is up 10% from the same date a year ago. This marks the eleventh time in twelve months that rental availability nationally has improved, albeit from record lows. Despite the increase this still amounts to only 3,500 rental homes for the whole country. The improvement in supply has spread somewhat outside Dublin almost half of the additional 328 properties on the market on November 1, compared to a year previously, were in Leinster, but outside Dublin.
Commenting on the report, Raychel O'Connell, Communications Manager of Daft.ie, said: "For the 14th quarter in a row we have seen unprecedented high rents across the country. With rents at a record high, and availability in such short supply, it is clear that the sourcing of more rental accommodation continues to be of utmost importance for the Irish property market."
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