News | 1 week ago
"Dublin rents now 23% higher than 2008 peak" — latest renting report makes for terrifying reading
What a nightmare.

If you're currently looking to rent anywhere in Ireland, you're going to wince your way through this entire article.

The Irish Rental Price Report for 2017's third quarter confirms what many already know to be true about renting in Ireland: it's bloody expensive.

Key among the reports findings was that price levels in Dublin are currently 23% higher than their peak in 2008, meaning that rent prices in Dublin have literally never been as high as they are right now. The report further points out that "an objective reader will have concerns not just that the trend is persistent but also shows no signs of ameliorating."

The report argues that an increase in supply is the only solution to Ireland's housing ills. The report's author, Ronan Lyons, argues that the country needs to build roughly 50,000 homes every year, and 15,000 rental homes. Furthermore, Lyons writes that Dublin needs an apartment block of 200 units to open in Dublin "every week from now until the 2080s."

The average rent nationwide is currently €1,198 — a 3.4% increase on the second quarter of 2017. This represents a 16% increase on the nationwide peak in 2008.

There is huge variation in rent levels across the country, however. These are the average rent prices by county:

Carlow — €820
Cavan — €648
Clare — €727
Cork — €855
Cork City — €1144
Donegal — €592
Dublin City Centre — €1819
Dublin North County — €1478
Dublin North City — €1659
Dublin South City — €1890
Dublin South County — €1955
Galway — €751
Galway City — €1057
Kerry — €728
Kildare — €1,193
Kilkenny — €850
Laois — €812
Leitrim — €532
Limerick — €748
Limerick City — €956
Longford — €595
Louth — €1066
Mayo — €632
Meath — €1147
Monaghan — €696
Offaly — €779
Roscommon — €613
Sligo — €665
Tipperary — €720
Waterford — €760
Waterford City — €797
Westmeath — €814
Wexford — €741
Wicklow — €1236

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Rent, Housing