TENANTS in Donegal are
now paying just under 600 a month on average to
rent a home, new figures show.
The data from Daft.ie shows that rents in the county
were on average 5.5% higher in the third quarter of
this year compared to a year previously.
The average advertised rent is now 592, up 22% from
the lowest point.
By contrast, rents rose nationwide by an average of
11.2% in the year to September 2017, according to
the company's latest quarterly rental price report.
The average monthly rent nationwide during the third
quarter of 2017 was 1,198, the sixth quarter in a
row that a new all-time high has been set.
Meanwhile, another report out today by the Economic
and Social Research Institute (ESRI) shows that
house sale prices are expected to rise by at least
20% in the next three years.
Daft report author and Trinity College economist
Ronan Lyons said rental prices continued to rise at
near record levels due to the "worsening shortage of
He said 46 out of 54 regions now show rents that
exceed Celtic Tiger highs.
"Rents in some parts of Dublin have now risen by 90%
from their lowest levels in 2011.
It is now increasingly agreed that the country
needs at least 40,000 and probably closer to 50,000
new homes a year, to meet underlying demand," said