The average rent for all dwellings in the private rented sector in Westmeath in Q3, 2016, and which were registered with the Residential Tenancies Board (RTB ), was €618.
This was up €8 when compared to the average rent in Q2, 2016, when the amount was €610, and was up €37 when compared to the same period in 2015. The data comes from the RTB’s Quarterly Rent Index, which is compiled by the Economic and Social Research Institute (ESRI ) for the board.
Nationally, monthly rents grew by 2.3 per cent, marginally slower than Q2 when they increased by 3.5 per cent. Overall, the data show that rents for houses are increasing at a slightly faster rate than rents for apartments, at 2.6 per cent compared to 1.8 per cent.
In Dublin, the pace of growth has slowed somewhat compared to Q2, with rents increasing by 0.6 per cent. The slowdown appears to be driven by a marginal fall in Dublin house rents of 0.6 per cent, while rents for Dublin apartments increased by 1.5 per cent during the same period. This is the first decline in quarterly Dublin house rents since Q1, 2013.
Interestingly, the pace of growth outside Dublin picked up in Q3, with overall rents outside Dublin increased by 3.6 per cent. This consisted of a 3.6 per cent increase in house rents, while the comparable increase in apartments was broadly similar at 3.4 per cent. This was the fastest rate of growth among all categories in Q3. Overall, Dublin rents are now 5 per cent higher than at their previous peak in 2007, while rents outside Dublin are now 7.3 per cent of their peak in that year.
For more information visit the RTB website at www.rtb.ie
