The latest Daft.ie rent report has concluded that rents in Mayo have risen by 3.4 per cent year on year and the average rent in the county is now €568 per month, up by 10 per cent from their lowest point since the property website has been carrying out this survey.
While Mayo's rents have risen they are still a long way off the national average rent which is coming in at €1,037 per month across the country, with Mayo's average rent coming in at €469 less than the national average. In the capital rents have risen by 11 per cent over the past calendar year and is now five per cent higher than their previous peak in 2008. On the rental listings on www.daft.ie there are 110 properties for rent in the county as of Thursday, August 25.
For parents of third level students the increase in the big cities will be of concern, the increase in Dublin has been mirrored in Cork city seeing the biggest national increase with rents rising by 18 per cent in 12 months and Galway city jumping by 14 per cent in a year with the average rent in Galway is now being €932 per month, while in Sligo the average rent is €558 per month.
Ronan Lyons, economist at TCD and author of the Daft Report, said: “Ahead of a new academic year, the latest figures highlight the severe shortage of accommodation for students. “While a large number of purpose-built student apartments are either being built or are planned, these will take time to come on stream and will only cater for those on higher incomes. The majority of students will face tough choices about where to study and where to live.”