Laois in top three counties for highest rate of rent increase in Ireland

Just 42 houses available for rent in Laois as rents jump by nearly 16%

By Conor Ganly

Reporter:

By Conor Ganly

Email:

news@leinsterexpress.ie

Rent.

Rents in Laois rising faster than in Dublin or in the rest of the country.

Rents are rising faster in Laois than nationally and in Dublin while Laois is in the top three counties for highest rate of increase, according to the latest figures from Daft.ie

Rents rose nationwide by an average of 13.5% in the year to December 2016, according to the latest quarterly Rental Report by Daft.ie. This is the largest annual increase in rents ever recorded in the Daft.ie Report, which extends back to 2002.

In Laois, rents were on average 15.9% higher in the final three months of 2016 than a year previously. The average advertised rent is now €746, up 48% from its lowest point. 

The pressure to find homes is revealed in the number of homes available in Laois at present for rent. There are just 42 properties on the Daft.ie website and just under half of these are in Portlaoise. No house in the county town is available below the cost of the average Laois rent. Some houses are costing €1,200 a month.

There are just six houses for rent in Portarlington where a one bed granny flat is available for rent at €110 a week. The must expensive house in the town is a three bed detached house for €950 a month.

In Laois' third biggest town Mountmellick there are just 2 homes to rent on the Daft.ie website.

Despite the rising rental increase and shortage of homes to rent, no Laois town was not included in the cap on rents system announced by the Government this year.

Daft.ie also say that the average asking price -  €149,519 - to buy a house in Laois was up nearly 10% for the last quarter of 2016 compared to the same period the previous year. The Daft.ie site shows that there are 320 houses and just 15 apartments for sale in Laois.

There are over 1,300 people waiting to be houses by Laois County Council according to its latest official list figures. The Central Statistics Offices has told Laois County Council that there are some 3,000 vacant homes in Laois.

In Dublin, the annual rate of inflation in rents during 2016 was 14.5%, the second highest rate on record since 2002. Rents in the capital are now 13.7% higher than their previous peak in early 2008 – or an average of almost €200 a month. In Cork, rents rose by 12% during 2016, down from 18% earlier in the year.

Rents in Galway are 10% higher than a year previously, while rents in Limerick have risen 12.5% in the last year. In Waterford city, rents have risen by 10.7% in twelve months, the same as outside the major cities.