Rent rises by 16% in Kilkenny

Galway Bay fm newsroom - Rents in the county have risen by nearly 5 per cent in the space of three months.

Nationwide, rents rose by an average of 13.4% in the first quarter of this year.

"And with just over 3,000 rental homes available to rent in May 2017, we urgently need some affordable rental supply, we need to urgently get affordable homes onto the market".

In Waterford city, rents have risen by 10.2% in twelve months, while outside the cities, rents have risen by 13.2%. In Cork, rents rose by 10.4% in the year to March, the tenth quarter of double-digit growth in rents.

The cost of renting has now risen in money terms by more than 50 per cent from its lowest point during the recession.

The cost of renting a home in Clare is continuing to rise, though at a slightly slower rate than the national average.

In the rest of Limerick, rents were on average 9% higher in the first three months of 2017 than a year previously.

When compared to the same period previous year, rents in the city have increased by nearly 11 percent and have increased by 14 per cent in the county.

Martin Clancy, PR & Communications manager with Daft.ie said: "We're recording big increases in activity on site and on average over 1,000 property searches are taking place every minute on Daft.ie". Tenants are under huge pressure, and those people who are dependent on the rental system for their housing needs are looking at rents that are up to 15% higher than the Celtic Tiger peak with the lowest number of properties to rent since 2006.

Author of the Daft.ie report and Trinity College lecturer Ronan Lyons said: "The rental market has, for over five years now, shown increasing signs of distress, with stronger demand but weaker supply each year".

However, Stephen Faughnan of the Irish Property Owners' Association claimed that the State has "punished landlords that kept their rents low".

Related:

Comments

Latest news

Ten tips that help to win
Tip # 2 You need to find out as much information as you can on the online casino before you will give away your money. Unlikely you will want to swim in the dark pond if you have no idea what is waiting for you below the surface.

Voiptime Cloud Releases a Lead Management System with an Online Dialer
Online Access Voiptime Lead Management System is a cloud solution, accessible from any desktop or laptop with an internet access. When the information is spread in several sources, it is difficult to find contact needed and easy to forget important details.

Nigerian Schoolgirls Abducted by Boko Haram Three Years Ago Have Been Freed
President Muhammadu Buhari said in a statement that he will receive the released schoolgirls in Nigeria's capital, Abuja . Many of them could find their ways back to the terrorists camps from where they could unleash terror against the country.

Phoenix police announce arrest in serial street shootings
Police previously said at least seven people were killed and two others wounded over a four-month period previous year . Phoenix mayor Greg Stanton congratulated police and other law enforcement officials who hunted down the suspect.

Other news