DCSIMG

Rent hike in Limerick city not seen across county

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  • by Anne Sheridan
 

RENTS in county Limerick have increased marginally by 0.6%, while rents in the city have jumped by 5.4% in the past year.

The latest report from the property website Daft.ie shows that the average rent in the city is now €672, while in the county it is €585.

Over 330 houses and apartments are currently available to rent in Limerick, with the average price of renting a single room - as opposed to a one-bed apartment - being €225, up 1.8% in the past year. The average rent for a double room in the city is €268, up 0.8%.

The quarter-on-quarter change in the city is 1.7%, while in neighbouring Tipperary the year-on-year change is 2.2%, up to €581.

In the capital, rents rose the most, at 14%, climbing to €1,289; in Cork they were up 6.2% to €848; and in Galway rents rose by 5.6% in the last year to €828.

The cost of renting a double room across the four cities has risen in the last year, although single room costs have mostly remained the same. Compared to their lowest points in 2010, rents in Cork and Galway are now over 8% higher. The average rent nationwide is now 9% higher than it was at the same stage last year according to the latest quarterly Daft.ie rental report.

Rents rose in every county outside Connacht and Ulster, with the biggest annual increase of 14% occurring in Dublin city centre. The average rent nationwide is now €888.

Rents rose in all city centres, with rents in Dublin’s neighbouring counties of Wicklow and Kildare also witnessing a significant increase of 9%.

Outside of the cities, rents rose by an average of 4%, whilst the number of properties available for rent is now under 4,000 - down from 11,000 two years ago.

Commenting on the report, Ronan Lyons, economist at Trinity College Dublin and author of the Daft Report, said the report shows that the housing crisis in Dublin is getting worse.

 

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