LATEST: Average rent across Kildare has jumped to over €1,600 a month - Daft.ie report
The latest rental report from property listings website, Daft.ie has found that market rents in Kildare were on average 8.1% higher in the second quarter of 2022 than a year previously.
The average listed rent is now €1,605, up 117% from its lowest point.
Market rents in Dublin's commuter counties in general rose 9.3% year-on-year, reflecting very low availability - just 89 homes were available to rent on August 1, down over 56% in 12 months.
The report also found that on 1 August there were just 716 homes available to rent across the country, with fewer than 300 in Dublin.
That compares to 2,500 one year earlier and marks another record low in availability.
"A resurgent economy over the last year has accentuated the chronic shortage of rental housing in Ireland," said Ronan Lyons, Associate Professor of Economics at Trinity College Dublin and author of the Daft Report.
"While the professional rental sector has added over 7,000 new rental homes in the last five years, this is small relative to the fall of 30,000 in rental listings each year in the traditional rental sector in the same period or the fall of 100,000 listings per year since 2012."
The data shows that between April and June, the average market rent asking price across the country rose 3.3% compared to the previous three months, to €1,618 per month.
That is more than double the low of €765 per month that was recorded nearly 11 years ago.
The annual rate of increase in asking prices for rent in the main cities during the second quarter was highest in Limerick at 17.7% and Waterford at 17.1%, with Galway recording a rise of 16.4%.
In Dublin, the annual increase stood at 12.7% in the quarter, while in Cork city it hit 11.8%. The rest of the country saw an increase of 12%.
On a county basis, Leitrim saw the greatest increase of 21.3%, with asking prices for rents jumping 19.9% in Longford.
"The shortage of rental accommodation translates directly into higher market rents and this can only be addressed by significantly increased supply," Mr Lyons said.