Midwest Radio

Rents in Mayo increased by 7.4% in the year to Sept, according to latest Daft.ie report

Rent increases in Mayo were well below the national average in the year to September 2017, according to the latest quarterly Rental Price Report by property website Daft.ie.

Nationally, rents rose by over 11% in the year, but by just 7.4% in Mayo.

The average advertised rent in Co Mayo is now 632 euro per month.

This compares with the average national rent of 1,198 euro per month.

In Galway city, rents have increased by almost 10% over the past year to 1,057 euro per month and by over 12% in Dublin to 1,774 per month.

Commenting on the report, economist at Trinity College Dublin Ronan Lyons says rents are continuing to rise at record rates due to an acute and worsening shortage of accommodation.

He says the country needs at least 40,000 new homes per year, or even closer to 50,000 to meet underlying demand.

 

daft.ie Rental Report: Q3 2017 - An infographic by the team at daft.ie

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