A new report from Daft.ie shows in Waterford City rents have risen by 19.7% in the last year and the average rent is now €955.
In County Waterford, rents were on average 13.5% higher in the third quarter of 2018 than a year previously.
The average advertised rent is now €863, up 52% from its lowest point.
Rents across the country are continuing to rise. They increased nationwide by an average of 11.3% in the year to last September, according to the property website, Daft.ie.
It is the tenth consecutive quarter that a new, all-time high for rents has been reached, with annual rent inflation exceeding 10%.
The average monthly rent countrywide was €1,334 between July and September this year.
The rental cost is €304 higher than the previous peak, in 2008, when the financial crisis hit, and €590 higher than when rents were at their lowest, in 2011.
In Dublin, rents were, on average, 10.9% higher over the third-quarter of 2018 than a year previously.
The average advertised rent in the capital has now reached €1,968, almost double what it was in 2011.
Rental costs in other cities continue to rise rapidly, too:
- Waterford: €955, +19.7%
- Cork: €1,301, +13.7%
- Limerick: €1,151, +20.3%
- Galway: €1,226, +16.1%
While the average inflation rate for other cities is 15.9%, the inflation rate elsewhere in the country is 10.6% and the average rent is €937.
The cost of renting a room increased by 10% in Cork City, to €467 for a single bed; it was €358 in Limerick (+8.2%), and €335 in Waterford (+13.2%).
For a double bed, the average rent was €545 in Cork City (+11%); €455 in Limerick (+15.2%), and €368 in Waterford (+13.9%).
