Average rents in County Limerick continue to increase faster than in the city

Limerick rents are increasing according to latest Daft report

Average rents in County Limerick increased significantly last year

AVERAGE monthly rents in County Limerick have risen by more than 8% over the past year - significantly more than the rate of increase in the city.

According to the latest Daft Rental Report, which has just been published, the average monthly rent for a property in County Limerick was €1,003 at the end of March - up from €978 at the end of December.

The latest figure represents a 2.6%% increase compared to the previous quarter and a 8.1% change year-on-year.

While average monthly rents in Limerick city are higher then the county, at €1,293, the year-on-year increase was 6.3%.

According to Daft, the average rent for a one-bedroomed apartment in the city was €961 (+6.2% y-o-y) at the end of March compared to €1,057 (+5.8%) for a two-bedroomed house and €1,190 (+3.2%) for a three-bedroomed house.

The report also shows it cost an average of €378 to rent a single room in the city centre while it costs an average of €388 to rent a single room in the suburbs. 

In the county average rents were €697 (+6.6%) for a one-bedroomed apartment; €777 (+5.6%) for a two-bedroomed house and €874 (+3.1%) for a three-bedroomed house.

Commenting on the Daft report, its author Ronan Lyons, economist at Trinity College Dublin, said: "The impact of Covid-19 on Ireland’s rental market was largely to send Dublin and the rest of the country in different directions. In Dublin, additional supply moving over from the short-term lettings market coupled with a temporary halt to people moving to the city pushed rents down. Elsewhere, lockdown ground the rental market to a halt, with fewer listings pushing rents further up."

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