Rent rises by 16% in Kilkenny

Gillian Mooney

Reporter:

Gillian Mooney

Email:

news@kilkennypeople.ie

Rent.

Rent in Kilkenny was on average 16% higher in the first three months of 2017 than a year previously. The average advertised rent is now €819, up 43% from its lowest point.

Rents rose nationwide by an average of 13.4% in the year to March 2017, according to the latest quarterly Rental Price Report by Daft.ie. The average monthly rent nationwide during the first quarter of 2017 was €1,131, the fourth quarter in a row that a new all-time high has been set.

This is further highlighting the housing shortage the country is seeing, with just 3,084 properties available to rent nationwide on May 1st. This is the second lowest number on record, in a series that started in January 2006. Commenting on the report, Ronan Lyons, an economist at Trinity College Dublin and author of the Daft Report, said: “While the headline rate of inflation in rents has eased slightly, the market continues to exhibit signs of extreme distress. Rents are at a new all-time high, while the number of homes available to rent remains at the lowest levels on record.

Concluding on his comment Mr Lyons said "The appropriate solution remains to increase supply. This includes both making better use of the existing stock of housing and building substantially more, in particular, more apartments.”