Rents are increasing in Kildare
Average rent in the first three months of 2018 was €1,112, up €68 on the same time period last year.
That’s according to the latest Rental Tenancies Board rent index.
The report, based on 19,879 new and renewed tenancies in Q1 2018 showed that in Dublin the average rent for new tenancies stood at €1,527, in the greater Dublin area (Meath/Wicklow/Kildare) it was €1,104; outside of the Greater Dublin Area, new average rents were €791.
According to the Residential Tenancies Board, in the January – March period of 2018 (Q1), the standardised national average rent for new tenancies in County Kildare was €1,122, up from €1,054 (+€68) one year earlier and down €2 on the previous quarter (Q4 2017).
The Greater Dublin Area (excluding Dublin) shows new rents decreased 0.72% compared with the previous quarter, down €8 from €1,112.
Commenting on the Rent Index for Q1 2018, Rosalind Carroll, Director of the Residential Tenancies Board said: “With continuing robust economic and jobs growth through 2017 and in to 2018 significant pressures remain on the private rental market in the first three months of the year. However, while annual growth rates show an increase in Q1 2018, on a quarterly basis we have now seen three consecutive quarters of reduced growth rates both at a national level and in Dublin. We will need to monitor whether this quarterly trend continues during the rest of 2018.
“It is worth noting that the Rent Index is based on new tenancies registered each quarter and therefore does not reflect what is happening within existing tenancies (the ‘base’ effect). Some of the new tenancies will be properties new to the rental market (i.e. not let in the previous 24 months) or may have been subject to substantial change and therefore are exempt from the 4% rent restrictions of the Rent Pressure Zones (RPZs). Further reports and data will provide additional insight in to the impact of the RPZs and their impact on the rental market.”