Mayo rents rise by just under two per cent

The latest Daft.ie rental report has shown that rents in Mayo have risen by just under two per cent in the past 12 months. The report has shown that in Connacht rents rose by an average of 3.4 per cent from September 2013 to September 2014, with Mayo’s rents rising by 1.9 per cent. In Mayo the average advertised rent is now €551 a month, which in itself is 20 per cent lower than what it was at peak levels.

Commenting on the report, Ronan Lyons, economist at TCD and author of the Daft Report, said: “In many ways, the lack of available properties to rent is more concerning than the high rental rates, although clearly the two phenomena are inextricably linked. The only silver lining is the fact that this quarter was the first time in five years that rent inflation in the capital eased somewhat. However, even if an easing in Dublin inflation continues and stops the affordability crisis from worsening, it does nothing to change the availability crisis.” Rents are now more expensive than they were at the same stage last year in every county in Ireland, according to the latest quarterly rental report by Daft.ie Nationally, rents have risen by over 11 per cent in the space of 12 months with the national average rent now €933 compared to €842 a year previously.

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