RENTS across Limerick have continued to rise – despite the impact the Covid-19 pandemic has had on the economy.
That’s according to Daft.ie, whose latest report reveals the monthly rent in the rural part of the county stands at €925. That’s 3.4% higher than this time last year.
However, tenants’ rates in the city area are down 0.7%, with the average rent there now standing at €1,217.
Nationally, average monthly rents rose by of 1.2% in the year to July, according to the report.
Rents in Dublin are largely unchanged, year-on-year, having risen by just 0.2% in the last 12 months to July.
In the rest of Leinster and in Munster, rents have risen in the last year – by 3.3% and 2.7% respectively.
In Connacht and Ulster, however, rents are 0.6% lower than a year ago. In the sales segment, prices have risen in both Dublin (+1.2%) and the rest of Leinster (+2.1%) in the last 12 months, but have fallen elsewhere in the country – by 2.8% in Munster and by 2.5% in Connacht and Ulster.
Report author Ronan Lyons, economist at Trinity College Dublin said: “Both sale and rental segments show very little fall-off in housing prices since the start of the Covid-19 pandemic, despite the extraordinary economic contraction. Various policy supports, for both owner-occupiers and tenants, appear to have made prices sticky. Nonetheless, given the potential for successive waves of Covid-19 in Ireland, this may be tested in the coming quarters. As it stands, both sale and rental segments appear to have weathered the initial impact of the pandemic and the underlying shortage – especially of rental accommodation – remains.”