Logo

News

Rents Stabilise



Nationwide rents fell by just over half a percent (0.6%) over the course of 2010, according to the latest report published by the property website, Daft.ie. The fall compares with a drop of 15% during 2009. The average rent nationwide now stands at €830, 27% below the 2007 peak.

Rents in Dublin are 2% Higher

The levelling off in rents nationally hides different regional trends. In Dublin, rents in some areas are up to 2% higher than a year previously. In Cork and Galway, rents were largely unchanged over the year. In Waterford and Limerick cities, rents fell by between 3% and 4% over the course of 2010. Outside the main cities, rents continued to decline, falling an average of 3.5% over the year. The total number of properties available to rent nationwide has fallen from a high of over 23,000 in mid-2009 to less than 16,000 at the start of February.

Commenting on the report, Ronan Lyons, Economist at Daft.ie, said: "For any property market, be it sales or rental, urban or rural, the key condition for a levelling off in prices is clearing the overhang on the market. In Dublin's rental market, and to a lesser extent in those of the other cities around the country, that happened over the course of 2010. Across large parts of the country, however, there remains a significant oversupply on the market, which is pushing down rents. All eyes will be on rents in Dublin during 2011, as stable rents could indicate a stabilisation in the labour market and broader economy."

Average rents in Dublin Q4 2010- €1,080.

View all news

Latest news

Property prices defy cost-of-living squeeze rising 15.2%
View article

Rising interest rates: feeling the pinch
View article

Brexit relocations fall, but Dublin still top choice
View article

Office vacancy rate declines further
View article

View all news