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Rents In County Kildare Almost 8% Higher Than The Same Period Last Year

File image: Rolling News

Average rents in the county are €2 below the national average.

In County Kildare, rents were on average 7.8% higher in the first quarter of 2022 than a year previously.

The average listed rent in the county is now €1565, up 112% from its lowest point, and only €2 below the national average.

Rents in Dublin's commuter counties rose 8.8% year-on-year, reflecting very low availability - just 76 homes were available to rent on May 1st, down almost three quarters year-on-year.

Nationwide rents in the first quarter of 2022 were an average of 11.7% higher than the same period a year earlier, according to the latest Rental Report by daft.ie.

The average market rent nationwide between January and March was €1,567 per month, up 2.8% on the last three months of 2021 and more than double the low of €765 per month seen in late 2011.

Nationwide, there were just 851 homes available to rent on May 1st, down from over 3,600 a year ago and another new all-time low in a series that extends back over fifteen years to 2006.

The recent fall in homes to rent is seen in all regions of the country, with an 81% fall in availability in Dublin and a 66% fall elsewhere in the country.

The report also includes an analysis of 72 multi-unit rental developments, which are estimated to have added at least 400 new rental homes in the last six months.

Of these, it is estimated that 82% are already occupied, with occupancy in the wider multi-unit rental sector estimated to be 95% in early May, up from 93% six months ago.

The reports shows, while there have been differences in regional trends in rents in recent quarters, the rate of increase was similar across all major regions between early 2021 and early 2022.

In Dublin, market rents rose by 10.6% year-on-year, while in Cork and Galway cities, rents rose by 10.2% and 13.8%.

Inflation was higher in Limerick and Waterford cities, at 15.5% and 16.2% respectively, while outside the cities the average increase was 12.7%

The sharp increase in market rents around the country reflects a significant worsening in the record scarcity of rental homes.

The report also includes an estimate of the trend in rents for sitting tenants since 2010, as compared to new tenants paying market rates.

While inflation in market rents is currently above 10%, and market rents have doubled over the past decade, ‘stayer’ rents have increased by just 1.5% over the past year and by less than 40% over the past ten years.

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