Average rents by county in the third quarter of 2018, according to the Residential Tenancies Board (RTB)
…Amid continuing unprecedented demand, the national average rent rose to €1,122 during the quarter, up 7% on the same period last year.
But a moderation in that pace of growth is also evident, with rental price inflation dropping to 1.9% compared to the previous quarter when it was 3.6%.
In Dublin, the rate of increase was higher than the national picture at almost 9%, bringing the average rent in the capital to €1,620.
The index also found that areas designated as Rent Pressure Zones are seeing a slower pace of rent inflation for people who already have a tenancy.
However, one concern for the future is that the number of landlords is falling, despite high rental prices and record demand.
Rents still rising, but number of landlords falling – RTB rent index (RTÉ)
This report, jointly produced by RTB and the ESRI [The Economic and Social Research Institute], is controversial. Ireland’s #1 landlord Kennedy Wilson (which has leapfrogged #2 IRES), disputes the figures and I agree with KW, the figures appear to be based on new tenancies only.
The report has been released for previous quarters, timed to boost Eoghan Murphy’s political status (eg published day after vote of no confidence, published on day Eoghan visited the ploughing championship to announce policy changes etc), this is the earliest the report has been published. It appears to have been given in advance to the Irish Times only…