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01 Oct 2022

Most families can't rent in Laois for less than €1,000 - Daft.ie report shows

Most families can't rent in Laois for less than €1,000 - Daft.ie report shows

New houses coming on stream at Roselawn Portlaoise at the new Malting's Development

Most young families who have to rent in Laois now have to pay more than a €1,000 a month to rent in the county according to the latest figures from Daft.ie which show rents continuing to spiral.

The average rent in Laois has now surged to €1,146 by Christmas 2021 according to the new Daft Rental Price Report Quarter 4 2021. Apart from being a 2.8% on the three months to August last year, the average rate rose by a staggering 11.6% on what was being charged at the end of 2020.

The breakdown reveals the cost facing families in particular who are forced into the rental market in Laois. Families with children would have to squeeze into an apartment or a two bedroom home to get a house below €1,000 a month.

The breakdown is as follows: 

  • Apartment €775: up 9.1%
  • 2 bed house: €927 8.7%
  • 3 bed house: €1,058 9.6%
  • 4 bed house:  €1,228 9.2%
  •  5 bed house: €1,476 11.4%

The figures from Daft.ie also reveal an apparent failure of the cap on rents that is supposed to apply in the two most populated parts of Laois. 

The Portlaoise Municipal District and the Porgarlington Graiguecullen Municipial District are both Rent Pressure Zones. Any rent increase in a RPZ is prohibited from exceeding general inflation and cannot increase by more than 2% per annum pro rata, where inflation is higher.

The report also reveals how much families and others could save on rent if they could buy a home in Laois.

  • 1 bed apartment: Mortgage €332 
  • 2 bed house: Mortgage  €430
  • 3 bed house: Mortgage €602
  • 4 bed house: Mortgage €1,151 
  • 5 bed house: Mortgage €1,195

Daft.ie also reports increases in all Leinster counties.

Rents rose by 2.9% between September and December 2021, the fourth quarter in four with strong three-month hikes.

Rents in Leinster's midland counties rose 13.2% year-on-year, reflecting a sharp fall in availability - just 35 homes were available to rent on February 1, the lowest on record.

Across the province as a whole, rents are now 10.5% higher than a year ago, with increases ranging from 8.3% in Louth to 17.7% in Longford.

Daft.ie also reports rent a room increase for Leinster. The cost of a single or double room in Leinster was roughly 5.9% higher in the fourth quarter of 2021 than a year earlier.

The Daft.ie report shows a slight rise in rental stock. There were just 286 homes available to rent in Leinster (outside Dublin) on February 1, a slight improvement from the record low on the previous quarter but still a quarter below the level a year ago. MORE BELOW IMAGE.

Nationwide rents in the final quarter of 2021 were an average of 10.3% higher than the same period in 2020, according to the latest Rental Report by daft.ie. The average monthly rent nationwide between October and December was €1,524, up 3% on the first quarter and double the low of €765 per month seen in late 2011.

The rental website says goal of the Daft Report is to use this information to help all actors in the property market make
informed decisions about buying and selling.

In addition, because it is freely available, the Daft Report can help inform the media, the general public and policymakers about the latest developments in the property market

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