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Rents Continue To Rise

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Rents Continue To Rise

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New figures show rents are continuing to increase nationwide.

According to the Residential Tenancies Board (RTB) Rent Index, the annual growth rate for rents in Q2 was 7.6% - up from 6.9% in the previous quarter.

The national average rent was €1,094 - an increase of €77 year-on-year.

Annual rent inflation in existing tenancies grew by just over half the rate (4.9%) of new tenancies (8.4%).

The report's based on over 18,700 new and renewed tenancies and showed that in Dublin, the standardised average rent was €1,587.

Source: RTB

In the Greater Dublin Area (Wicklow, Kildare, Meath) this stood at €1,118, and outside Dublin this was €817.

On a quarter-on-quarter basis, the rental price inflation increased in Q2 to 3.4% up from 2.7% one year earlier.

The RTB suggests national growth rates are being influenced by the Dublin and the Greater Dublin Area - which account for just under half of all tenancy agreements.

Source: RTB

Housing Minister Eoghan Murphy said: "We know that quarterly trends can be volatile, but they do continue to rise and this continues to be a challenge.

"People are paying too much in rent and this has to be better controlled.

"This is why I will shortly be introducing new rent protection measures in to the Dáil."


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