Dublin rent now higher than at Celtic Tiger peak

Dublin rent now higher than at Celtic Tiger peak

Rents in Dublin are now, on average, €500 above their Celtic Tiger peak as rents across Ireland rose for the ninth consecutive quarter.

Property website Daft.ie said the Dublin average is now €500 above the boomtime figure.

The report states that there were 3,070 properties available to rent across the country of which 1,397 properties were in Dublin. It said rents increased across every county in the past year, with the largest jump being in Limerick city at over 20 per cent.

The average monthly rent in Ireland is now €1,304, a 10.4 per cent increase on the figure for the same time last year. It is €274 per month higher than the peak figure in 2008 and over €560 higher than the low seen in late 2011. In Dublin rents are up even higher, rising by 13.4 per cent over the past year. Rents there now average €1,936, almost €500 more than the peak a decade ago.

Rents in Limerick city are 20.7 per cent higher than a year ago, in Waterford the increase is 19.3 per cent. and in Galway the rise is 15.9 per cent. In Cork, rents rose across the county by 10.5 per cent and by 12.8 per cent in the city. Average rents across Ireland are up by 10.4 per cent.

The average rent nationwide has risen by just over 75 per cent since it bottomed out in late 2011.

Average monthly rent in Irish cities
• Dublin – €1,936
• Cork – €1,266
• Galway – €1,189
• limerick – €1,109
• Waterford – €92
source: Daft.ie

Irish property prices outside Dublin rose by 15 per cent in a year

Irish property prices grew fastest outside Dublin in the year to June. The cost of a home in the capital rose 9 per cent, while the figure for the rest of the country was 15.2 per cent, according to Ireland’s Central Statistics Office.

Nationwide, prices grew by 12 per cent but the rate of the annual increase was slower than in the previous two months: 12.4 per cent in May and 13.3 per cent in April, The average price of a property in Dublin was €359,852. The national average was €237,000. Outside Dublin, the highest average property prices were in Co Wicklow, €310,000, and Co Kildare, €280,000.

The lowest were in Co Longford, €92,000, and Co Leitrim, €95,000. In Dublin, house prices grew by 8. 4 per cent while apartments increased by 12.8 per cent.

The highest house price growth was in Dublin city at 12 per cent. In the rest of the country house prices increased by 14.6 per cent and apartment prices were up by 20.3 per cent. The mid-west region showed the greatest price growth at 22.3 per cent.

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