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Rents across Ireland went up again last year

Private sector rents went up by 5.8% in Ireland last year. Again, the growth in Dublin exceeded t...
Newstalk
Newstalk

12.31 26 Mar 2015


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Rents across Ireland went up a...

Rents across Ireland went up again last year

Newstalk
Newstalk

12.31 26 Mar 2015


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Private sector rents went up by 5.8% in Ireland last year. Again, the growth in Dublin exceeded the rest of the country.

In the capital, rents went up by 9.6% - or around €104 - while outside Dublin, the growth is just under 4%.

Nationally, rents for houses were 4.8% higher, while apartment rents were up 6.4% more than in the same quarter of 2013.

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The data is contained in the Quarterly Rent Index from the The Private Residential Tenancies Board (PRTB), compiled by the ESRI.

It marks the last three months of 2014.

It found annual growth in the Dublin market was stronger - up 9.6% - with Dublin house rents up by 7% and apartment rents higher by 10.9%.

In contrast, annual growth in rents for the market outside the capital was more subdued - seeing growth of 3.9% when compared to the fourth quarter of 2013.

But the report adds that the performance differs by property type.

The rent for houses outside Dublin increased by 4.4%, while apartments outside Dublin experienced an increase of 2.9%.

The rent index shows that, nationally, rents peaked in the fourth quarter of 2007 - before declining by 26% in the first quarter of 2012.

Economist with the ESRI, David Duffy, says rents for apartments went up by more than those for houses.


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