for the second quarter of 2022 was published today (Wednesday, 10 August), and with it came an indication that conditions continue to worsen for renters nationwide.
Market rents in the second quarter of 2022 were an average of 12.6% higher than the same time period in 2021.
The annual inflation rate of 12.6% is the highest ever recorded in the report since it began in 2006.
Not only that, rental availability is also at its lowest level since the report was first published.
Here is a county-by-county breakdown of how much average rent costs in each county in the Republic of Ireland, and by how much the cost has increased since last year:
- Carlow: €1,221, up 12.8%.
- Cavan: €1,012, up 18.3%.
- Clare: €1,145, up 12.9%.
- Cork: €1,296, up 10.4%.
- Cork City: €1,670, up 11.8%.
- Donegal: €881, up 18.5%.
- Dublin City Centre: €2,121, up 13.4%.
- Dublin North City: €2,111, up 12.3%.
- Dublin North County: €1,987, up 14.4%.
- Dublin South City: €2,264, up 12.5%.
- Dublin South County: €2,387, up 12.1%
- Dublin West County: €2,045, up 11.6%.
- Galway: €1,184, up 12.4%.
- Galway City: €1,663, up 16.4%.
- Kerry: €1,159, up 13%.
- Kildare: €1,605, up 8.1%.
- Kilkenny: €1,218, up 11%.
- Laois: €1,204, up 10.8%.
- Leitrim: €843, up 21.3%.
- Limerick: €1,169, up 12.6%.
- Limerick City: €1,559, 17.7%.
- Longford: €975, up 19.9%.
- Louth: €1,448, up 8.2%.
- Mayo: €983, up 16%.
- Meath: €1,596, up 9.8%.
- Monaghan: €981, up 10.7%.
- Offaly: €1,194, up 13.9%.
- Roscommon: €980, up 18.1%.
- Sligo: €1,030, up 16.6%.
- Tipperary: €1,089, up 12.3%.
- Waterford: €1,295, up 16.5%.
- Waterford City: €1,312, up 17.1%.
- Westmeath: €1,269, up 13.4%.
- Wexford: €1,120, up 14.7%.
- Wicklow: €1,738, up 11.8%.
"Fewer than three hundred. There were fewer than three hundred homes advertised to rent in Dublin on 1 August," said Ronan Lyons, Associate Professor of Economics at Trinity College Dublin and author of the report.
"To put that number into perspective, we can contrast it with the average number of homes available to rent on the same date in the late 2010s, between 2015 and 2019. During this period of the Celtic Phoenix, there was very tight supply already as the economic recovery gathered pace.
"But even then, there was an average of just under 1,450 homes available to rent in Dublin at the start of August [in those years].
"Outside Dublin, the typical August in the late 2010s saw almost 2,100 homes available to rent at any point in time - although the trend was somewhat downward during those five years - compared to just 424 on 1 August this year."
You can read the report in full
here.
This article originally appeared on joe.ie.
Header image via Shutterstock
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