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Average rent prices in Laois rose by over 10 percent within the last year

Laois has seen rental prices rise by average of 10.7 percent over the course of a year.

The average rent in the county is now €921 – up 83 percent from its lowest point.

These price increases were measured by the latest quarterly Rental Report by Daft.ie –  from October – December of 2017 up to October – December of 2018.

This is 0.9 percent higher than the nationwide average rise of rents, which is 9.8 percent.

The average monthly rent nationwide during the final quarter of 2018 was €1,347. This is €317 per month higher than the previous peak in 2008 and over €600 higher than the low seen in late 2011.

In Dublin, the increase in rents in the year to December 2018 was 8.8 percent; and rents in the capital are now 37 percent, or almost €540 a month or €6,500 a year, higher than their previous peak a little over a decade ago.

While this marks another record high in national average rents, the rate of increase is the slowest in almost three years.

There were 3,641 properties available to rent nationwide on January 1. This marks an 11 percent improvement on the same date in 2018 and is only the second time – together with February 2017 – that stock on the market improved at a double-digit rate.

Author of the Daft.ie report and economist at Trinity College Dublin Ronan Lyons said: “A rare improvement in availability of rental accommodation at year-end has meant a slight easing in rental inflation.

“This underscores the importance of additional supply in solving the problems of the rental sector, which have been on-going for nearly eight years.

“Construction of new homes remains focused on one-offs and estate housing, while the overwhelming need is for apartments, in particular for renters.

“It remains to be seen, therefore, whether the modest improvement in conditions over recent months continues.”

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