Rents for Dublin houses have fallen for the first time in three years
But the average cost nationwide now stands at €973 per month – up nearly 10% in a year.
THE PRICE OF renting a house in the capital has fallen for the first time since 2013 – but average prices across the country continue to rise.
The rate of growth in the entire private rental sector in Dublin slowed to 0.6% in the third quarter of the year against an average price rise nationwide of more than 2%.
The new data from the Residential Tenancies Board (RTB) found the cost of renting a house in Dublin dropped by 0.6%, the first decrease since the first quarter of 2013, while apartment prices jumped 1.6%.
The RTB data is based on 30,260 new tenancies which commenced in the third quarter of this year.
Average rental prices across the country were 8.6% higher than in the same period last year, up from €897 to €973.
Nationally, rents for houses were 7.4% higher than a year ago, increasing from €900 to €967, while apartment rents were up 9.9% compared to the same quarter of 2015, up from €925 to €1,017.
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Dublin prices
The average rental price of private rentals in Dublin went up 7.1% in the same 12-month period, now standing at €1,375 monthly, up from €1,285.
RTB director Rosalind Carroll said the rental market was “still volatile” and it was a good idea not to read too much into the quarterly results, although they appeared to show that private rent increases were moderating.
“But taking the third quarter data, based as it is on actual rents being paid, as opposed to asking rents, it does appear that the rate of growth has slowed, and in particular that the rate of rental growth in Dublin appears to have slowed,” she said.
Written by Garreth MacNamee and posted on TheJournal.ie
