Rent increase in Donegal

Rent increase in Donegal

Rents are increasing in Donegal according to the latest figures from a national property website.

According to the research carried out by daft.ie, rents in Donegal were on average 3.6 per cent higher in the second quarter of 2016 than a year previously. The average advertised rent is now €533, up 10 per cent from their lowest point.

Rents rose nationwide by an average of 3.9 per cent in the second quarter of 2016. This is the largest three-month increase in rents since early 2007 and means that, at €1,037 in the second quarter, the average monthly rent nationwide is at its highest level on record.

In Dublin, the annual rate of inflation in rents, in the year to June 2016, was 11.1 per cent, its highest since late 2014.

Commenting on the report, Ronan Lyons, economist at Trinity College Dublin and author of the Daft Report, said: “Ahead of a new academic year, the latest figures highlight the severe shortage of accommodation for students. The majority of students will face tough choices about where to study and where to live.”