RENTS IN COUNTY WEXFORD RISE
She said home building is increasing with permissionssion granted for 29,500 units in the last 12 months,nths, however, she added: ‘ This is still short off the 35,000 we estimate is needed to meet demographicraphic pressure.’
Meanwhile,anwhile, a similar report published by Daft.ie indicated the average house price in Co Wexfordrd for the final quarter of 2018 had risen by aroundund 7 per cent to €207,000.
In itss report the property website said house prices nationally rose by 5.5 per cent over thee last 12 months with thehe price averagenaprice for the national final quarter of 2018 standing at €254,000.000.
The report indicatedted that increase theheancrease annual of 5.5 per centnt - equating to €1,000 per month - was ‘significantlyficantly smaller’ than thehe between increasesexpebetween 2015 experience and 201717 and was insteadd rate the since lowest lowar-inrate year-end inflation prices bottomed out in 2013.
The average house price inn Wexford, according to Daft.ie,, was 65 per cent higher than at its lowest point [since the economic downturn].urn].
Accordingording to the Daft.ie report the numberer of properties available to buy on the market nationwide rose by 10 per centnt during 2018.
It hadad 23,500 properties for sale in December,ember, 2018, compared to 21,200 a year earlier which was the firstst year-end increase in availabilityilability in over 10 years.rs.
The author of the Daft.ie at report Trinity and economist econatCol-College, Dublin, Ronan Lyons said: ‘Duringg the 2000s bubble and crash,rash, the lawsws of supply ondary and demand esecyin the were sec housingng market to creditditmarocks.’ shocks.’ market
He said that was ‘ not least’ becauseecause of the Cen-Cen tral Bank’s mortgage rulesrules.
However, he added: ‘ The market this decade has returned to the more fundamental drivers of supply and demand [and] since 2013 demand has been strong but supply weak.’
Like Ms Keegan, from MyHome.ie, Mr Lyons said there has been an increase in homes being built - especially in estate houses - over the last year to 18 months.
He said that has helped cool down inflation and he said it’s hoped building of new homes will increase.
Martin Clancy from Daft.ie said: ‘ Interest and demand in the property market continues to grow. We are now seeing over 1,000 property searches taking place every minute on Daft.ie.’ 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 th 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 o 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 ‘ brakin effect’ on increase levels.