DONEGAL is an anomaly
in relation to the latest report on soaring house
rental prices nationwide.
Rents are "largely stable" in Donegal with the
average advertised price now at 594 a month.
Donegal registered a relatively modest 0.3% rise in
the year to last October compared to a nationwide
average of 11.5% in the year to March 2018. The
disparity, is being blamed on Brexit, as noted in
the latest Daft.ie rental report.
The report shows an eighth consecutive quarter where
annual inflation in rents has been greater than 10%
and also that a new all-time high has been set.
The average monthly rent nationwide during the first
quarter of 2018 was 1,261. This represents a
monthly increase of 232 (2,784 a year) compared to
their previous peak in 2008.
In Dublin, the increase in rents in the year to
March 2018 was 12.8% and rents in the capital are
now 30%, or 430 a month, higher than their previous
peak a decade ago.
Rents also continue to rise rapidly in other cities.
In Limerick city, rents were 17.1% higher than a
year ago, while in Waterford, the increase was
14.6%.
Galway saw its rents increase by 13.6% in the same
period, while in Cork, rents rose by 9.3%. Outside
the five main cities, rents rose by an average of
10.1%.
There were 3,086 properties available to rent
nationwide in April. This is the lowest number ever
recorded for this time of year since the series
started in 2006, and the figure marks a 17% decrease
on the same date a year previously.
Report author Ronan Lyons said: Rents have now been
rising almost three times as long as they fell in
the crash and the increases show no signs of
moderating. With the exception of Donegal where
Brexit is having a clear effect on the local market
the problem is countrywide." |
