AVERAGE rents in Limerick have risen by more than 10% in just 12 months according to the latest Rental Price Report from property website Daft.ie
According to the report which analysed trends during July, August and September the average monthly rent in Limerick city is now €946 while a property in County Limerick will set you back €748.
Compiled by Ronan Lyons, Assistant Professor at Trinity College Dublin, the report states that average monthly rents in the city range from €718 for a single bedroom apartment to €1,074 for a five bed house.
At the end of September, the average monthly rent for a one bedroom apartment in County Limerick was €500 while the cost of a five-bedroom house was €768.
The average monthly rent for a room was €345 (up 18.6%) in the city centre compared to €338 (up 15.8%) in the suburbs.
According to the Daft.ie report, there were just 251 houses available for rent between Limerick, Cork, Waterford and Galway on November 1 – compared to 420 on the same day last year.
“As it stands, they (the four cities) are starved of rental supply,” states Mr Lyons.