RENTS IN COUNTY WEX­FORD RISE

Gorey Guardian - - NEWS -

AV­ER­AGE rent for new ten­an­cies in Co Wex­ford dur­ing the third quar­ter of 2018 was €727 equat­ing to an in­crease of €46 com­pared to the same pe­riod the pre­vi­ous year ac­cord­ing to the Res­i­den­tial Ten­an­cies Board lat­est rent in­dex.

Ac­cord­ing to the in­dex the stan­dard­ised na­tional av­er­age rent be­tween July and Septem­ber this year was €1,122 - which was an in­crease of €78 over the same pe­riod last year.

How­ever, the stan­dard­ised av­er­age fig­ure for out­side of the greater Dublin area was €859.

While the rent for Wex­ford com­pares favourably to both of those fig­ures in terms of it be­ing less than t na­tional av­er­age it still rose by €26 within the coun com­pared to what it was in the sec­ond quar­ter of 201

The RTB rent in­dex is com­piled in con­junc­tion wi the Eco­nomic and So­cial Re­search In­sti­tute (ESR and is widely re­garded as the au­thor­i­ta­tive guide the Ir­ish rental mar­ket.

The rent in­crease na­tion­ally for ex­ist­ing ten­anci (5.4 per cent) was lower than the 8 per cent in­crea on new ten­an­cies and ac­cord­ing to the RTB this in­dica­tive of rent pres­sure zones hav­ing a ‘braki ef­fect’ on in­crease lev­els.

County Wex­ford also recorded a 2.5 per cent share of over­all new ten­an­cies for the third quar­ter of 2018.

The re­port stated that rents are now at a record high across the coun­try and there is un­prece­dented de­mand within the sec­tor, how­ever, the num­ber of land­lords is fall­ing with a de­cline of 8,829 ten­an­cies and 1,778 fewer land­lords than there were three years ago.

The Di­rec­tor of the RTB, Ros­alind Car­roll, said af­ford­abil­ity still re­mains an is­sue for the rental mar­ket with in­creas­ing de­mand aris­ing from eco­nomic, em­ploy­ment and pop­u­la­tion growth.

‘The rate of rent in­fla­tion slowed this quar­ter some­what, which we will con­tinue to mon­i­tor in the months ahead,’ said Ms Car­roll.

‘The im­por­tance of strong pro­tec­tions for ten­ants is un­der­lined by the fact that the pace of rent in­crease un­der ex­ist­ing ten­an­cies is well be­hind that of new ten­an­cies which shows us that Rent Pres­sure Zones are work­ing much bet­ter within ex­ist­ing ten­an­cies,’ she added.

How­ever, Ms Car­roll added that a de­crease in the num­ber of land­lords is an is­sue of con­cern and com­mented: ‘If we are to meet de­mand and en­sure a well-func­tion­ing rental sec­tor then we need more land­lords, and dif­fer­ent types of land­lords, to of­fer mar­ket op­tions.’

She said that land­lords leav­ing [the sec­tor] is in­creas­ing strain and pres­sure on the mar­ket.

Ms Car­roll also high­lighted that new leg­is­la­tion due to come into ef­fect in 2019 will equip the RTB with suf­fi­cient pow­ers to in­ves­ti­gate and apply sanc­tions where there are con­tra­ven­tions of rent re­stric­tions in rent pres­sure zones.

She also em­pha­sised a need to be able to im­ple­ment such pow­ers ef­fec­tively.

LEFT: da map sho house pric last three the in­cre RIGHT: show­ing price for the last th the perce the prev the perce the price boo

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