Rents in Donegal rise by 6.9%
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
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."