Rents in Waterford City have risen by almost seven per cent in the last year according to the latest Daft.ie Rental Price Report.
Rents have risen 6.9 per cent in Waterford City in the last year, with the average rent now €1.495.
In the rest of Waterford, market rents were on average 12.2 per cent higher in the first three months of 2024 than a year previously.
Nationally, the average market rent is €1,467, up 6.8 per cent.
Limerick city recorded one of the largest increases in the country at 17.5 per cent.
Across the country, on May 1st, just over 2,000 homes were available to rent, almost unchanged on the same date a year previously.
Commenting on the report, Ronan Lyons, Associate Professor in Economics at Trinity College Dublin and author of the Daft.ie Report, said:
“Rental inflation has slowed considerably over the last 18 months, driven in large part by the construction of significant numbers of new rental homes in the Dublin area. More supply, even at the upper end of the market, relieves pressures across the market and, in the second half of 2023 in particular, new supply saw availability improve and inflation has eased."
He continued: "However, improvements in the availability of homes to rent look to have stalled. Without additional increases in rental supply, any pressure on rents is likely to be upward in nature, further straining affordability for those on regular incomes. For that reason, policymakers must develop a thorough understanding of rental supply dynamics ahead of a detailed plan on dramatically increasing rental supply over the rest of the decade.”
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