A report compiled by the Residential Tenancies Board has revealed that the average rent in Donegal for newly registered properties was €545 between July and September this year.
This was up €21 when compared to the average rent in Q2, 2017, which was €524, and is up €22 when compared to a year earlier, in Q3, 2016.
This is according to the latest Residential Tenancies Board (RTB) Rent Index which is produced in conjunction with the Economic and Social Research Institute (ESRI).
The RTB Rent Index is based on data from all new tenancy agreements registered with the RTB nationally in Q3 this year.
In total 29,528 new tenancies nationally were registered in Q3, this represents an increase of over 6,000 registrations since the previous quarter.
Rents are highest in Dublin, the surrounding counties and larger urban counties such as Cork, Galway and Limerick.
As of 2017 Q3, there were five counties where the average rent for new tenancies exceeded €1,000 per month (Cork, Dublin, Galway, Kildare and Wicklow). The highest average rents were in Dublin at €1,518.
The county with the lowest standardised average rent was Leitrim at €487 per month.
In percentage terms, nationally rents grew 9.5% over the year to Q3, an increased rate of growth compared to Q2 this year.
Rents in Q3 2017 were 7% above their previous peak recorded in Q4 2007.
While rents began growing again in late 2012, the acceleration in the pace of growth, beginning in early 2014, continued in the most recent quarter. This follows a moderate slowdown in the pace of growth in Q4 2016 and Q1 2017.
The RTB have launched an online campaign targeting tenants and landlords to drive greater awareness about Rent Pressure Zones and the requirements for setting rents on properties located in them.
For more, see https://www.rtb.ie/.Tags: