Wexford Chronicle 24-4-2020

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wexford

thechronicle April 24, 2020 t: 0539102441, www.thechronicle.ie

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Through the roof: Rents rise to €786

Rental prices appeared to have leveled off in county Wexford, at the end of the year but are still up 6.2% in a year to reach an average of €786. The standardised average rent in county Wexford stayed the same in the final quarter of 2019 according to new figures published in the latest Rent Index report released by The Residential Tenancies Board (RTB). Despite the leveling off of

rents at the end of the year, landlords saw a healthy yearon-year increase in average rents, rising from €741 to €786 – a 6.2% increase over the year in the 12 months up to December 31, 2019. Unsurprisingly the highest standardised average rents nationally were in Dublin and now stand at €1,716, while Leitrim remains the lowest at €560 and actually recorded a decrease in rental prices in the

final quarter of 2019. Meanwhile, the national standardised average rent was €1,226 per month, up by 6.4% (€74) from Q4 2018, and quarter-on-quarter rents decreased nationally by -1.2% (€15) in Q4 2019. Outside of Dublin, the national standardised average rent stands at €922 on December 31, 2019. This represents an annual increase of 7.6% (€65). “We are encouraged to see

that Q4 2019 recorded the lowest annual rent increase in six years, showing signals of stabilisation in urban areas,” Padraig McGoldrick, Interim Director of the RTB said. “However, I am aware that the period reflected in the latest Rent Index represents a very different world to the one we are living in today, and that the COVID-19 crisis presents new challenges for both landlords and tenants across the country.”

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