Rents in County Wicklow far exceed national average

RENTS in Wicklow rose by an average of 9.3 per cent in the second quarter of 2016 compared to 3.9 per cent nationally.

According to the latest quarterly rental report by Daft.ie, rents have increased at the highest rate since 2007, and the average monthly rent country-wide is at its highest level on record.

The average advertised rent in County Wicklow is now €1,071, up 39 per cent from their lowest point.

A one-bed apartment on average now costs €772 per month to rent, an increase of 8 per cent.

A two-bed house now costs on average €904 to rent, increasing by 11.4 per cent. Rents for a three-bed house have risen by 8.5 per cent to reach €1,094.

The average rent for a fourbed house stands at €1,188, a 9.5 per cent rise, while a tenant renting a five-bed house can expect to pay an average of €1,353 in rent, an increase of 16.9 per cent.

It is also possible to calculate the average mortgage payment as well as the average rent, for properties around the county, with mortgage repayments based off a 4.3 per cent variable mortgage, for terms of 30 years, with 85 per cent LTV.

The average mortgage in Wicklow for a one-bed apartment stands at €440, €571 for a two-bed house, €838 for a three-bed house, €1,618 for a four-bed house and €1,748 for a five-bed house.

There were just over 3,600 properties available to rent nationwide on August 1, an increase on the 3,100 available in May of the same year.