Home News Average rent in Laois was €1,146 in final quarter of 2021, up...

Average rent in Laois was €1,146 in final quarter of 2021, up 11.3% from 12 months previous

Daft.ie report

There are currently only five residential properties to rent in Laois on Daft.ie, as a report by the website shows that the average rent in the final quarter in 2021 was €1,146, up 11.3% on the previous year.

The 35 homes available in the midlands counties on February 1 is the lowest on record.

In Laois, rents were on average 11.3% higher in the final quarter of 2021 than a year previously. The average listed rent is now €1146, up 117% from its lowest point.

Nationwide rents in the final quarter of 2021 were an average of 10.3% higher than the same period in 2020, according to the latest Rental Report by daft.ie.

The average monthly rent nationwide between October and December was €1,524, up 3% on the first quarter and double the low of €765 per month seen in late 2011.

The sharp increase in rents around the country reflects a worsening of the unprecedented scarcity of rental homes.

Nationwide, there were just 1,397 homes available to rent on February 1st, a new all-time low in a series that extends back over fifteen years to January 2006.

Commenting on the report, Ronan Lyons, Associate Professor of Economics at Trinity College Dublin and author of the Daft Report, said: “The strong rebound in economic activity, as public health restrictions relax, has translated into a strong demand for rental accommodation.

“Coming at a time of very weak rental supply, this has pushed rents up further, with inflation at its highest rate nationwide since early 2018.

“The number of live rental ads is at its lowest ever on record, with fewer than 1,400 live ads on February 1.

“As new purpose-built rental stock is completed, availability of rental homes will be better measured by capturing development-specific vacancy rates, as well as ads.

“An analysis of over 60 existing purpose-built rental communities indicates over 90% occupancy across their nearly 8,000 homes. Figures for a further 12 developments coming on stream in early 2022 suggest brisk take-up of new homes.

“Even if the 1,700 homes due to become available in the first half of 2022 were added to the existing stock of rental ads, the number of homes available to rent in Dublin now would be below the level seen a year ago.”

Of the five homes in Laois currently listed on Daft.ie, the lowest price is €900 per months for a one-bed apartment in Mountmellick.

There is a three-bedroom house for €950 per month in Clonaslee, a two-bed apartment for €1,100 in Portarlington, a three-bed house for €1,200 per month in Mountmellick and a three-bed house for €1,300 per month in Ballyroan.

There is currently property for rent available in Portlaoise.

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