Rental prices increased throughout 2016 at their fastest annual pace since the website daft.ie started compiling statistics on the rental market in 2002.
Average rents nationwide rose by 13.5% in the year to December, according to the latest report from the property website.
At €1,111, the average monthly rent nationwide is at a new high, the third successive quarter with a record high according to daft.ie.
The annual rate of rental inflation in Dublin is running ahead of the national figure at 14.5%.
The average monthly rent in the capital, at over €1,650, is now almost €200 higher than the last peak in early 2008, despite the subsequent property crash and a sustained period of low inflation in the interim…
Rents increasing at record pace, report finds (RTÉ)
Graphs via Daft
is that per person sharing? or a one bed or what? cos i’m gonna need a bigger raise if 1700 is the S Dublin sharing average
This is not a rise in Average rents – it is a rise is average asking rents for new offerings. The media seem to completely ignore the vast majority of properties that are not on DAFT and therefore do not experience these rises as the tenants stay put and have much lower increases.
After the two years moratorium, our rent increased from 1550 to 1900; a friend’s rent from 1500 to 2200. Both for 2-bed apartments in south city centre. Neither made it to Daft at the time of the rent increase, as we were already living there.
But you do have a point. My friend found new accommodation via personal contacts, and not Daft, and it was much more reasonably priced. I also know of numerous other people who rent or offer for rent properties via personal contacts and don’t use Daft or similar sites.
2200 for a two bed….. what…. the… fupp…… has it a jacuzzi, free 100MB wifi and the TV licence paid for…
Messin’ aside, where’s it located?
Close to the National Concert Hall. I was told that it was actually a 1 bedroom, as the other bedroom as unsuitable for living in; a fact that the owner acknowledged. I just checked on Daft – the price decreased to 2000/month. It was first listed for the same 2200 the owner wanted from the tenants and has been decreasing by 100 per week. I guess the owner overplayed their hand.
Over the last 15 years,
Daft.ie has collected a vast
amount of data on the
Irish property market. In
2016 alone, over 170,000
properties for sale or rent
were advertised on the site
Are you trying to imply there’s a separate cohort of landlords who are not getting the maximum rents that they can get? That there’s rent controls we don’t know about in your alternative reality?
Yea apparently the bottle is ‘half full’ Anne – who knew!!!
“The average monthly rent”
Is that per person, per house, per apartment? Average what?
€ per square meter would be much better, yes
Isn’t it amazing what can happen when a cartel of vested interests involving a government agency, financial institutions, property developers and private landlords get together to artificially control the supply of housing.
Of course, conspiracies don’t exist in Ireland, do they?
But of course, in last April’s census report, there were over 36,000 vacant properties in Dublin and only 4000 of those were being used for vacation rentals.
Go figure.
Yea – the government should stay out of the market and just build social houses. Anything else messes up the market and reduces supply. The gov have severely punished any landlord who did not increase their rents in line with the market over the past 4 years and this sort of thing frightens the suppliers of rental properties. All to increase the yields for new builds.
can’t be interferring in the morket shur we cant Alison. 20% deposits required is not interfering at all at all. likewise all the section x reliefs and most of all Nama.
There’s no such thing as a free market in nature. There are rules around buying, selling and the ownsership of property, it’s who benefits is the question.
(plagurised – sorta from Robert Reich)
What’s your point?
Is it that the government should exert eminent domain over vacant private properties forcing landlords to let them?
How do private landlords control the supply of housing louise?
What about government increasing taxes for landlords to a level whereby 1,000 a month are quitting the rental market?
Bottom line is that landlords are a necessity, and government should make it viable for them to rent their property
Landlords are not a necessity. A roof over people’s heads is.
Aren’t you the same commenter who’s been whinging about all the taxes you’ve to pay on your income as a landlord. You want your income to be tax free and your pension paid for in full by someone else -your tenants.
Gougers are not a necessity.
You know what happens when a landlord quits the rental market right? They usually sell on.
The avearge rent in 08 was 1450, wtf. I was only paying €850. I find it hard to believe I was 600 below the avearge. Those figures have to be wrong.
The level of distortion in the property market is beyond all belief. When you consider the ordinary headline rate of inflation, and you compare it to increases in rental prices, you know something is way out of sync. Anyone whoever studied economics and competition law would immediately suspect there is anti-competitive behaviour of an egregious nature in the Irish property market.
No doubt there will be a few spoofers on site later, giving their spin how the Irish property market is different and that those ‘rental prices’ mentioned in Daft’s report reflect ‘real’ demand. Well of course they do, especially when there is deliberate market distortion and artificial controls placed on supply. Maybe if more Irish people started asking questions instead of accepting ‘property-price propaganda’ on blind faith, we’d all be better off and enjoy more affordable homes!
The truth is Ireland is never going to have an affordable, reasonable housing market with a good standard build quality (Not high standard), because it is stuck deep inside the Irish psych that Housing is something you use to make a killing, to make a profit. It has shaped our corrupt Politics at every level and has made building standards and average room sizes even worse. The best Irish people can hope for is a stagnant housing market for a couple of years when Brexit and Trumps tax breaks for Multinationals come in and start to eat at the economy. There is zero signs of any optimism with regards to housing, for renters or buyers.
This is gibberish
I concur