Average rent is on the rise in Sligo - up 41% from its lowest

In Sligo, rents were on average 10.1% higher in the third quarter of 2018 than a year previously.

The average advertised rent in Sligo is now €732, up 41% from its lowest point.

Rents rose nationwide by an average of 11.3% in the year to September 2018, according to the latest quarterly Rental Report by Daft.ie.

This represents the tenth consecutive quarter in which a new all-time high for rents has been set and also in which annual inflation in rents has been greater than 10%.

The average monthly rent nationwide during the third quarter of 2018 was €1,334. This is €304 per month higher than the previous peak in 2008 and over €590 higher than the low seen in late 2011.

There were 3,214 properties available to rent nationwide on November 1st.

This marks a 4.5% decrease on the same figure a year ago and the lowest total for November on record (since 2006). There has been a small increase in availability in Dublin (up 6.4%) but this was more than offset by falls in availability else- where, in particular elsewhere in Leinster (down 15%) and in Munster (13%).

Ronan Lyons, economist at TCD and author of the Daft Report, said: “The latest figures, showing a further strong rise in rents around the country, may not be surprising. Nonetheless, the condition of the private rental market remains a cause for huge concern, with very strong demand not being met by supply. A comparison of the country’s households and its dwellings reveals an acute shortage of apartments, not family homes.”