Rent up 10% nationally in final quarter of 2021, says Daft
Photo by Rahul Kanike on Unsplash
Rent up 10% nationally in final quarter of 2021, says Daft
Words: Dylan Murphy
In their Irish Rental Report for quarter four of 2021, the property rental site has revealed a number of worrying statistics.
Today, Daft shared their Irish Rental Report for the final quarter of last year. It noted that according to listed rent prices compiled by the website, the average national rent in Ireland sits at 1,524 euro per month. That’s ten per cent higher than the same period in 2020 and the highest rate since early 2018.
Whilst the quarterly increase in rents nationally, was 3 per cent, much similar to the third quarter of 2021, Dublin saw increases of 4.1 per cent in the final quarter. The average rent in Dublin is said to be around 2,056 euro per month which is an 8.9 per cent increase on the previous year. With demand for rental property an issue in the capital, this makes for the largest three month increase since 2014.
While it’s no secret that there’s a huge squeeze on property available to rent in Dublin, the report’s findings make for startling reading given the wider available data. Daft revealed that adverts for rental properties fell from 820 in November to 712 on the first of this month, which is down by 73 per cent on the same number available in February last year – a record low for the report which began in 2006.
As for the rest of the country, the figure rose from an all-time low of 640 in November to 685 in February.
It comes after the previous edition of the report, released in November, noted that nationally and in the capital, availability of rental homes was at an all-time low
“Unfortunately, the figures for February 1 suggest that, if anything, availability has worsened further since late 2021, with just 712 ads for rental homes in Dublin (down from 820 in November) and 685 in the rest of the country (up slightly from the all-time low of 640)”, says the report.
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