Words: Eva O’Beirne
And Leo claims the grass isn’t greener elsewhere.
According to the findings of the latest Daft.ie quarterly rental report, the rental cost of both full properties and individual rooms in Dublin have risen significantly since January, at 14.3 per cent and 13.7 per cent respectively.
There were just 345 homes listed for rent in the Dublin market on November 1, a slight increase from the record low of 292 in August but still the lowest availability of properties to rent for November on record.
The average rent for a single bedroom in Dublin is now 682 euro per month, while a double bedroom is 777 euro per month.
At the end of August, there were just 716 homes available to rent nationwide with the average monthly rent nationwide being 1,618 euros.
Between June and September, the average listed rent nationwide rose by over four per cent, a total of 1,688 euros- the largest quarterly increase on record going back to 2005.
On average, market rents in the third quarter of 2022 were 14.1 per cent higher than last year – making it the highest yearly increase since the Daft Report was launched in 2005.
Of the 35 markets covered in the Daft.ie report, only three areas (Kerry, outside Cork city and Clare) experienced an annual rent increase of less than ten per cent.
The report comes alongside comments from Tánaiste Leo Varadkar that “young people won’t find lower rents emigrating” and that “the grass looks greener” elsewhere.
“You are not going to find rents are lower in New York or it is easier to buy a house in Sydney,” said Varadkar to Gavan Reilly during an appearance on Newstalk’s show On the Record.
These comments were quickly shot down by users on Irish Twitter, with both former and current residents of both Sydney and New York stating how Ireland’s rental market pales in comparison to living abroad.
Australian journalist Brianna Parkins also chimed in and tweeted: “I did some back-of-the-envelope sums and I am €8470.19 worse off living in Ireland every year than I am in Australia. NOT INCLUDING Aus lower taxes/rents etc.”
“This comes from missing superannuation, higher cost of medication, cost of GP/consultant/private health care,” she explained.
Elsewhere on District: New Albums: Saint Jude, Rory Sweeney, BROCKHAMPTON & more