The cost of renting a home in Donegal is almost half the national average of €1,122, according to the latest report from Residential Tenancies Board (RTB).

The average monthly rent in Donegal was €571 in the third quarter of 2018 – up 2.3% from the same time last year and up 2.9% from April-June 2018 levels.

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There are just three counties in Ireland with standardised average rents below €600 euros per month.

The county with the lowest standardised average rent was Leitrim at €518 per month. Donegal is joint second lowest with Longford.

The newly-published RTB Q3 2018 Rent Index shows rents continue to trend upwards, with national rent increasing to €1,122 in Q3 2018, an increase of €78 since Q3 2017.  The standardised average rent for outside the Greater Dublin Area stood at €859.

The report also found the number of landlords is falling, despite rents being at a record high and the Irish rental market experiencing unprecedented demand.

There was a decline of 8,829 tenancies and 1,778 fewer landlords than in 2015.

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Rosalind Carroll, Director of the Residential Tenancies Board said the fall in landlord numbers is a cause for concern:  “If we are to meet demand and ensure a well-functioning rental sector, then we need more landlords and different types of landlords to offer market options. With many landlords leaving, it is increasing strain and pressure and this must be addressed.”

 

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