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04 Dec 2021

Average Kilkenny rent up 96% from its lowest point - Daft.ie report

Lowest ever levels of rental stock also reported

Average rents in Kilkenny on the rise

Average rents in Kilkenny are increasing

The average rent in Kilkenny has jumped 8.4% in the last year, according to the Daft.ie Rental Price Report, published today.


The property company say: “Covid-19 temporarily reshuffled Ireland’s rental problems but the latest figures confirm those problems of shortages are getting worse over time.”


Rents in Leinster’s south-eastern counties rose 9.9% year-on-year, reflecting a sharp fall in availability - just 46 homes were available to rent on November 1, the lowest on record.


In Kilkenny, rents were on average 8.4% higher in the third quarter of 2021 than a year previously.


“The average listed rent is now €1120, up 96% from its lowest point,” according to Daft.ie


Elsewhere in Leinster, the lowest rate of increase was in Louth (4.7%) and the highest increase was in Wexford (12.3%).


The cost of renting a room has also increased. The cost of a single or double room in Leinster was roughly 5.3% higher in the third quarter of 2021 than a year earlier.


‘All time low’
Daft.ie reports that properties for rent are now at an ‘all time low’ in statistics gathered by the company since 2006.


Ronan Lyons, economist at Trinity College Dublin and author of the Daft Report, said: “Covid-19 temporarily reshuffled Ireland’s rental problems but the latest figures confirm those problems of shortages are getting worse over time. While Dublin had initially seen an increase in rental availability, with the number of rental homes on the market doubling from 1,600 to nearly 3,200 in 2020, those trends have reversed rapidly, with just over 800 homes available to rent on November 1st.


“While some argue against the construction of large numbers of purpose-built rental homes, any solution to the chronic shortage of rental homes in Ireland must include building new ones. In this regard, the pipeline of almost 45,000 new build-to-rent homes is particularly welcome.”

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