Donegal and Wexford have witnessed the biggest increases in rent for new tenancies
The data is contained in new research published by the ESRI on the average rent prices of new tenancies, compared to existing ones.
The North West County along Wexford recorded the most significant increases in the country at around 23 percent last year when compared to the third quarter of 2022.
Renters in new tenancies registered with the Residential Tenancies Board paid over 17 percent more in rent than those in existing tenancies.
The report claims renters in a new tenancy recorded with the RTB in the third quarter of last year paid an average of nearly 16 hundred euro on rent.
That’s compared to 1,357 euro paid by those in existing tenancies – a difference of 17.7 percent.
Overall, average rents for new tenancies grew by 11 percent year-on-year, while it was 5.2 percent for existing tenancies.
The lowest average rent for new tenancies was in Co Leitrim, at €853 per month. For existing tenancies, the average rent was at €698 for the third quarter.
In Dublin there was an 18.2 percent difference in new versus existing tenancies, while it was 18.5 percent in Cork.
