Average listed rent in County Roscommon now €1,260
Rents in County Roscommon were on average 15.2% higher in the final three months of 2023 than a year previously.
The average listed rent in County Roscommon is now €1,260, up 76% from the level prevailing when the Covid-19 pandemic occurred.
According to the latest figures market rents in County Roscommon were on average 15.2% higher in the final three months of 2023 than a year previously.
Market rents in Connacht rose 14.7% year-on-year, compared to an increase of 17.4% increase seen during 2022. The on-going double-digit increases reflect very low availability, with only 207 homes available to rent in the province on February 1st. While this is up from a low of just over 150 in late 2022, it is still well below the 2015-2019 average of almost 550.
Nationally, market rents rose by an average of 6.8% during 2023, according to the latest Rental Report by Daft.ie. This compares with an increase of 13.7% seen during 2022 and 10.3% in 2021. The average open-market rent nationwide in the final quarter was €1,850 per month, compared to €1,365 per month seen at the outbreak of covid19 in early 2020.
The decline in rental inflation is driven by Dublin, where rents in the open market rose by just 2.6% during 2023, compared to an average increase outside the capital of 10.6%. Rents in Cork and Waterford cities rose by between 7% and 8% during the year, while those in Galway and Limerick cities rose by 11.3% and 14% respectively. Outside the cities, the smallest annual increase was seen in Dublin’s commuter counties (7.5%) while the largest increase was seen in the three Ulster counties, where market rents were almost 17% higher than a year earlier.
Meanwhile Sinn Féin Claire Kerrane has said that the latest Residential Tenancies Board (RTB) report shows private sector rents continuing to spiral out of control.
The TD added that the report also provided growing evidence of landlords within Rent Pressure Zones breaking the 2% annual rent increase cap.
“A Residential Tenancies Board rent report shows private sector rents continuing out of control. Statewide, new rents are up 11% while existing rents are up 5%.
“In County Roscommon, new rents have risen sharply at 19.3% while existing rents are up 9%. In County Galway, new rents are up 9% while existing rents have risen by 9% also. This is in the last year alone.
“Across the state, 22 counties have recorded new rents above 10%.
“Meanwhile, existing rents are up more than 5% in 19 counties.
“The high level of increase among existing tenants provides growing evidence of landlords within Rent Pressure Zones breaking the 2% annual rent increase cap. While it is not possible to determine the extent of noncompliance with the RPZ cap, it is clear that it is happening.
“The RTB must set out what it is doing to enforce the rule for existing tenants and for existing properties between tenancies. To date, enforcement of the RPZ caps has been almost non-existent.
“With each passing report, the situation for renters gets more dire. There is too little stock available and rents for new and existing tenancies are rising at unacceptable levels.
“Government must urgently ban rent increases for all existing and new tenants and in new rentals. They must also increase the renters tax credit and put a full month’s rent back into every private renter’s pocket.
“Most importantly, they must dramatically increase and accelerate the delivery of genuinely affordable cost rental homes and of social homes as this is the only real solution to the crisis in the private rental sector,” said Deputy Kerrane.
