The cost of renting a house in Waterford is 30% higher than it was in 2007.
The latest Daft.ie report shows the average rent in Waterford City is now €1,013 a month - 10% higher than last year.
Author of the report Ronan Lyons says rents now in Waterford are a good bit above the previous peak.
"While sale prices are still well below - in most parts of the country sale prices would be 30% to 35% below where they were in 2007.
"If you compare the rental side, in Waterford City rents peaked then, back in 2007, just below €800 a month.
"The average rent in Waterford City now has just surpassed a thousand euro a month.
"That's almost 30% higher than ten years ago."
Rents have now increased for 13 consecutive quarters, with students, young professionals, and families alike continuing to have great difficulty in securing rental accommodation nationwide.
Meanwhile, the Irish Examiner reports that renters are now having to pay up to €500 more every month than those who are paying a mortgage.
In Limerick City, for example, the average rent is €1,182. That compares to an average mortgage of €675.
In Waterford, renters are paying 67% more than mortgage holders. The average mortgage payment in Waterford City Centre is €592.
In Cork City, they face spending 47% more, with average rent at €1,358, compared to €923 per month for a mortgage.
In Galway, renters spend an average of €1,258 — 40% more than the average mortgage payment of €901.
In Dublin, it is more than €2,000 per month — an average mortgage is €500 less.
Average rents, and year-on-year change, Q2 2019
- Dublin: €2,023, up 4.5%
- Cork: €1,366, up 7.9%
- Galway: €1,297, up 9.1%
- Limerick: €1,225, up 10.5%
- Waterford: €1,013, up 10.0%
- Rest of the country: €993, up 9.2%
