Rents continue to rise nationwide

Figures from the Private Residential Tenancies Board underline the rapid pace of growth in the property rental sector.

It shows that the average rent for private accommodation went up 7.1% in 12 months from the second quarter of 2014.

Nationally, rents for houses were 6.4% higher in the second quarter of this year, while apartment rents were up 7.6%.

It means tenants leasing a house paid out an average of €878 per month in rent – €50 more than in the same period in 2014.

For people renting an apartment, the national average rate was recorded at €922.

Dublin rental rates continue to experience the strongest growth, the report reveals, going up by 9.2%.

Houses rents have shot up 8.8% in the capital in a year, while apartment rates went up by 9.4%.

The typical rent for a Dublin house in the second quarter of this year was €1,387 and €1,260 for an apartment.

Outside Dublin, average rent for a house or an apartment is almost half the capital norm.

The PRTB Quaterly Rent Index, which is prepared by the Economic and Social Research Institute, states housing rents outside Dublin stood at €695 up to June and around €660 for apartments.

Dublin rents are now just 3.5% lower than the rental highs experienced in 2007.

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