Wednesday, September 04, 2019

THE average monthly rent  in Kildare is almost €2 a day more expensive in 2019 than it was last year, figures released from  Daft this week reveal.

Last year, the average rent here was a teeth-gritting €1,283 per month in the county, while by the end of June this year that had risen by 4.5 per cent to an eye-watering €1,341 – a rise of €57 per month, year on year.

This equates  to the first €21,500 of your annual salary going to pay for the average rented roof over your head in Kildare in the second half of 2019. That’s before you put food on the table or pay for any other living expenses.

Rents in the commuter counties rose by an average of 5.4 per cent – a six-year low in rental inflation – though this is still more than a third (35%) greater than the previous all-time high in 2008.

At €1,391, the average monthly rent nationwide during the second quarter of 2019 nonetheless marks the 13th consecutive quarter of record rents.

The average listed rent is now €361 per month higher than the previous peak in 2008 and almost €650 higher than the low seen in late 2011.

As you can see, the national average is actually €50 a month greater than the Kildare average, but unsurprisingly, this is totally driven by the madness next door where the figure is now over two grand a month (€2,023), which requires a little over 32 grands worth of salary to maintain.

Though this slowdown in rental inflation (as opposed to actual rent) was tentatively welcomed by Trinity economist and Daft Report author Ronan Lyons, he cautioned: “The slowdown in rental inflation…is more likely driven by limits to affordability than improved supply”.

For example, in Dublin on August 1 though there were 420 properties more available to rent than at the same time last year (from 1,121 to 1,541) that is way down on the average 4,700 such domiciles that were available to rent in 2009.

“Building new rental supply remains critical to fixing the rental market,” Lyons continued.

“New figures in this report suggest that up to 25,000 new rental homes will be built over the coming few years [and though] these will certainly help address the supply-demand imbalance, stopping further inflation should be just the first target for policymakers, however.

“Bringing rents down to affordable levels must remain the ultimate goal

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By finian coughlan
Contact Newsdesk: 045 432147

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