House rent prices in Longford increase by 10%

According to the Daft.ie Rental Price Report for 2019, the average rent for properties in Longford is set at €693, which represents an increase of 10.4% on 2018 and a 1.2% quarter on quarter increase. This means that Longford county has the second lowest rent levels in the country after Leitrim, who have an average rent of €590.

According to the price report, there annual rate of inflation in the first quarter of 2019 nationwide was 8.3%, its lowest level in five years.

In Leinster, rents are 7.3% higher than in 2018 and in other areas where rent is of a lower average, inflation remains above 10%. The report found that inflation is highest outside of Leinster.

On May 1 2019, there were just over 2,700 properties available for rent on daft.ie, the lowest ever figure since 2006. The report also highlighted that rents are now 33% higher than their 2008 peak, with the average market rent nationwide rising by 84% since 2011.

In Dublin, rents are on average 39% above their previous peak levels. Rents in Cork and Galway city are 32% and 49% respectively above levels recorded in 2006/2007. Outside of cities, the average rent is 24% above previous peaks.

Rents nationwide rose by an average of 1.5% in the first quarter of 2019, the second smallest quarterly increase in five years.

The report found that the average rent for a one bed apartment in Longford was €503, an increase of 9.2%. The average rent for a two bed house was €585 (+9.7%), with the average rent for a three bed house set at €680 (+8.3).

The average rent price for a four bed Longford house was found to be €741, an increase of 7.4%, while rent for five bed houses increased by 10.9% to an average of €800.