The average nationwide rent hits a record high of €1,391 per month 2 months ago

The average nationwide rent hits a record high of €1,391 per month

All you need to know about the average cost of renting in your county is here.

Average monthly rents across the country have risen to a new record level during the second quarter of the year.

The average nationwide monthly rent has reached an all-time high of €1,391. This marks a 6.7% increase in the 12 months that were leading to June 2019.

While this period marks the lowest rate of rental inflation across the country since the final quarter of 2013, it's also the 13th consecutive quarter of record rents.

The slowdown in rental inflation is driven by Dublin, where annual inflation has fallen from a high of 13.4% in mid-2018 to 4.5% now.

The figures were released as part of the latest quarterly Rental Report by Daft.ie.

In Dublin, rent growth in the last quarter was 4.5% compared to a year earlier, bringing average rents to €2,023 a month.

While in Cork city, prices were up 7.9% year-on-year to a monthly average of €1,366.

Limerick city rents climbed 10.5% over the past 12 months to €1,225 a month, just ahead of the average increase in Waterford city of 10%, bringing average rents each month there to €1,013.

Here's the average rental prices and year-on-year change in each county. Dublin has a separate graph below.

 

 

In terms of what renters can ask for and afford, here are the average monthly rents across Ireland (€), and annual change (%), 2019.

The average monthly rent in Irish cities is generally higher than the monthly cost of a mortgage.

For example, the average mortgage in Dublin city centre is €1,488 per month, compared to the average monthly rent of €2,064 – that’s a 139% difference.

Elsewhere, the average rent in Limerick is €1,182 while the average mortgage is €675 - a 175% difference.

A full breakdown of the figures can be viewed here.