Out-of-reach: Rent has gone up 9% in average monthly in the year to March, new report shows – TheLiberal.ie – Our News, Your Views

Out-of-reach: Rent has gone up 9% in average monthly in the year to March, new report shows

The latest data from the Housing Tenancy Authority (RTB) shows that in the first three quarters of the year, average rents in newly registered rental units continued to rise, reports RTE.

The figures show that the average rent was €1,544 per month, an increase of almost 9% for the year, or 2.5% compared to the last quarter of last year.

While preparing the report, RTB examined the actual rent paid under 14,085 private leases that were newly registered with the board within three months.

The Rent Index aims to measure the changes in rental prices that people face when taking on new tenants in the private rental sector.

The index is not intended to reflect rents paid by current tenants.

The average rent for new tenants in Dublin was €2,102 per month over a three-month period.

In the greater Dublin area – excluding the capital – the average was €1,530, outside the GDA it was €1,133.

There was wide variation across the country, with the average rent in Cork City at €1,490.

The housing charity said the data showed rents continued to rise, albeit at a slower pace.

Speaking on RTÉ’s News at One, Advocacy Manager Ann-Marie O’Reilly said: “While overall it indicates some moderation, year on year, the increases are moderating. These are still on high-base rents. For example, that national increase, that equals €120 more on a new tenant tenancy compared to what a renter would have been paying the previous year on a new tenancy, and that is real money coming out of people’s pockets. It is really putting pressure on people, so overall, whether it is those 9% national figure or those higher figures … these are having a real impact on renters,” reports RTE.

Ms O’Reilly said the charity is seeing “what we call defacto, deregulated rents between tenancies where some landlords do take it as an opportunity to increase the rent even though it may not be lawfully permitted. If a property has been vacant for two years, it can be lawfully set at market rent” which is defined as “what somebody essentially is willing to pay,” she added, reports RTE.

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