Rent increases of €80 per month in Limerick

THE AVERAGE rent in Limerick for the third quarter of 2017 was up almost €80 per month on the previous year, according to new figures form the Residential Tenancy Board (RTB).

The RTB Q4 2017 Rent Index shows average rent for new private sector tenancies in County Limerick was €876, up from a €790 average in 2017 and up by €18 or 2.1 per cent on the previous quarter.

While rents have increased, the annual rate of growth nationally has slowed to 6.4 per cent from 8.0 per cent according to the RTB.

The data is reported in the RTB’s Quarter 4 2017 Rent Index Report, just published.  The report is produced in conjunction with the Economic and Social Research Institute and is based on the actual rents being paid in more than 17,700 new tenancies registered with the RTB during the quarter.

Outside the Greater Dublin Area (GDA) average rent was €793, up from €740 year on year and rents were up 7.1 per cent which is a small decrease from 7.9 per cent year on year growth in Q3 2017.

Commenting on the Q4 Index, RTB Director Rosalind Carroll said, “The continued strong economic and demographic growth combined with restricted supply continues to put pressure on the rental market and those seeking a place to live.  We see that, in the 6.4 per cent annual increase in new rents to the end of Q4 2017.  However, this rate of increase has slowed from the previous quarter and the last time the annual growth rate in new rents was below this level was in Q1 2014″. 

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