Rents in Longford an average of 6.2% higher than in 2018

Longford Leader Reporter

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Rents in Longford  an average of 6.2% higher than in 2018

Daft.ie recently published their rental report for Q3 of 2019 and it showed that in the Midlands counties of Laois, Westmeath, Offaly and Longford, rents rose by an average of 7% in the year to September 2019 and are now 36% above their previous peak in early 2008.

In Longford, rents were on average 6.2% higher in the third quarter of 2019 than a year previously.
The average listed rent is now €722, up 79% from its lowest point. Rents rose by an average of 5.2% nationwide in the year to September 2019.

This marks the lowest rate of rental inflation across the country since the second quarter of 2013. However, at €1,403, the average monthly rent nationwide during the third quarter of 2019 marks the fourteenth consecutive quarter of record rents.
The average listed rent is now €373 per month higher than the previous peak in 2008 and almost €660 higher than the low seen in late 2011.

At €1,403, the average monthly rent nationwide during the third quarter of 2019 marks the fourteenth consecutive quarter of record rents. Inflation has also slowed in Leinster, with rents 4.3% higher than a year ago, down from inflation of 10% or more between 2014 and 2018.

Similarly, in the other major cities, rents have risen by between 5.5% and 6% year-on-year. The number of homes available to rent nationwide is up 10% from the same date a year ago. This marks the eleventh time in twelve months that rental availability nationally has improved, albeit from record lows.

The full report is available from www.daft.ie/report and includes a commentary by author Ronan Lyons, economist at Trinity College Dublin.

Also read: 1,000 new jobs a central plank in government’s Just Transition Plan for the midlands