Limerick rents skyrocket by almost 20% according to new index figures

Limerick rents skyrocket by almost 20% according to new index figures

Limerick rents skyrocket by almost 20% according to new index figures

RENTS in Limerick city have risen the most of all of Ireland’s cities over the last year, new figures show.

The Residential Tenancies Board rent index indicates the average rent rate in Limerick city rose by 19.1% between the third quarter of last year and this year.

By comparison, rent rates in Dublin city rose by 10.4% and in Cork city by 11.4%.

Nationally, rents grew 9.5% from last year’s third quarter (July to September, also known as Q3) over the year to this year’s Q3.

Housing Minister Eoghan Murphy said that the government is continuing to “to keep the new Rent Pressure Zones under review to ensure that they are having the desired effect”.

The Rent Pressure Zones fixes a cap on the rate at which rents can be increased in one year in certain areas with high rent rates. The cap of 4% has been criticised previously as inadequate to deal with the high cost of rent already in place in those areas.

- For more, see the Limerick Leader, out on Thursday