New figures show cost of renting continuing to rise

Monday 11 November 2013 19.26
Rents have risen nationally, with the greatest increases in Dublin, Cork and Galway
Rents have risen nationally, with the greatest increases in Dublin, Cork and Galway

The cost of renting is continuing to rise, according to the latest report by property website Daft.ie.

The quarterly review shows rents have risen nationally, with the greatest increases seen in Dublin, followed by Cork and Galway.

The report reveals that the year-on-year increase in the average rent nationwide jumped to 4.8% between July and September, up from 4.2% on the previous quarter.

The greatest increase was seen in Dublin, where rents are now nearly 8% higher than a year ago.

The average nationwide rent is €824. That figure jumps to €1,150 in Dublin.

Outside Dublin, rents in the cities are rising but less rapidly.

Cork and Galway recorded rent rises of between 3%-4%, while in Limerick rents are 1.8% higher than last year.

The one exception to the trend is in Waterford, where rents are continuing to fall.