Rise in advertised Kildare rents says daft.ie

Rents continue to be higher than mortgages even allowing for loan interest rises

Henry Bauress

Reporter:

Henry Bauress

Email:

henry.bauress@leinsterleader.ie

Rise in advertised Kildare rents says daft.ie

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Advertised rents in county Kildare have increased by 7.9% between the fourth quarter of 2017 and Q4 2018, according to the latest report from daft.ie

The report said the average advertised rent in the county in the fourth quarter of last year  was €1,308.

When it came down to specific types and sizes of properties, there was a 4.7% rise in one bed apartment to an average of €928 while two bed houses rose 7.3% to €1,088.

Three bed houses were 4.7% up and stood at €1,267.

There was a 4.8% rise to €1,382 for four bed houses and an 11.4% rise to €1,516 for five bedroom properties.

SEE ALSO: Kildare auctioneer outlines local land market outlook for 2019

Ronan Lyons, from daft.ie said there was a slight ease in the rate of growth  in the rental housing market.

But daft.ie also said that there is high demand with its website getting a thousand searches a minute.

When it comes to value, the report also shows that  in county Kildare, paying a mortgage for the house you live in rather than renting it is a much better deal, if you can manage it.

Take a three bed house, for example.

Assuming a 3.5% mortgage interest, one would pay a €766 monthly mortgage.

If if you raise the interest rate to 5.5%, the mortgage would increase to €968 a month.

But even at that you would be better off than renting because the average rent is €1,267.

The same applies to a two bed house where the rent is €1,088 but a 3.5% mortgage would cost you just €574, rising to €726 with the interest rate rising to 5.5%.

daft.ie said a one bed apartment costs €982 to rent but a 5.5% mortgage would cost €547.