DONEGAL rents were 3.2%
higher on average in the first three months of 2015
than a year ago, the latest Daft.ie report shows.
The average advertised rent in the county is now
€509, a fall of 21% from the peak.
Meanwhile, there were fewer properties available to
rent nationwide on May 1 than at any point since
2006, according to the latest quarterly report.
There were just 4,300 properties available to rent
nationwide in early May 2015, compared to 7,200 on
the same day a year previously. The figure for May 1
is the lowest since the series was started in
January 2006; the highest was in mid-2009, when
there were almost 24,000 properties available to
rent nationwide, said Daft.ie.
The national average rent between January and March
was just over €960. That is 8.2% higher than at the
same point last year however, it is down from the
10.4% increase seen in mid-2014.
The report's author, economist Ronan Lyons said the
last decade has seen rapid growth in the number of
rental tenants. However, there were fewer properties
available.
"A renter today finds themselves with less choice on
the market than at any other time since 2006. This
extreme shortage of supply is at the heart of not
only rising rents and house prices but also issues
around working homeless, student accommodation
shortages and a lack of options for those in
mortgage arrears," said Mr Lyons.
"Solving the lack of housing will require
initiatives to moderate the high cost of building
homes in this country and completely reforming the
way social housing is funded.” |
