Housing shortages and average rents continue to rise in Ireland
DUBLIN: Earlier rents were higher only in Dublin, but now the situation is similar in other counties and suburbs. Rents are rising across the country and outside of cities. According to the Daft.ie report, the average rent increased by 11.4% to 1, 1,117.
The quarterly report on the Daft.ie website says rising rents are being driven by a housing scarcity. However, there remains a contradiction in that rents remain high despite the availability of more housing.
As of August 1, there were 2,455 properties available for rent across the country, the fewest in 15 years. At the same time, rents rose in Dublin despite the availability of more properties than in 2019. The report also reveals that only 789 properties were available for rent in other parts of the country.
According to the report, the average national rent for residential properties increased by 5.6% between April and June. Rents rose at a faster rate outside of Dublin. At the same time, the number of available rental homes plummeted to record lows, according to the second quarter report.
The report reveals the widest difference in rent movement across the country since the series began 15 years ago. Rents were down 7% in some parts of Dublin and up 16.5% in Kerry. The average rent in Dublin rose 0.5% to over over €2,000 a month, while in Cork the rent rose 9% to 5 1,524.
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