Rent in Laois higher than four counties in region
Laois has the highest rents in midlands reaching €900 per month by the end of 2019 before the Covid-19 crisis struck, according to the figures published last week by the Residential Tenancies Board (RTB).
The figures also revealed that rents rose by 3.4% in Laois on average between autumn and winter 2019. has published the quarterly Rent Index for the October-December period (Q4) of 2019.
The average rent at then of September last was €871 compared to €900 by the end of the year. The average rent at the end of 2018 was €837 according to the figures - a 7.6% annual rise.
Laois now had the highest average home rents in the midland region of Laois, Offaly, Longford and Westmeath.
Two electoral areas in Laois were declared rent pressure zones in 2019 - Portarlington / Graiguecullen and Portlaoise. Rents cannot be increased by more than 4% a year in rent pressure zones.
Figures show that the rents at the end of last year in the Portlaoise district had reached €953. In the Portarlington Graiguecullen district rents averaged €940.
Rent increases in both districts had increased by more than 7% every four months for six consecutive quarters by the end of 2019.
The RTB report said that Laois was one of three counties, alongside Kilkenny, and Limerick, that have a standardised average rent between €900 and €999.
“High rental levels in these areas relative to other counties reflect the concentration of demand close to the country’s largest employment hubs,” it said.
The national standardised average rent was €1,226 per month, up by 6.4% (€74) from Q4 2018, but quarter-on-quarter rents decreased nationally by -1.2% (€15) in Q4 2019.
Full RTB report.