The average rent in newly registered tenancies across the country now stands at €1,464, new figures reveal.
On a yearly basis, rents in newly registered tenancies increased by 8.2%, according to the latest stats from the Residential Tenancies Board.
The Rent Index measures rental price developments faced by those taking up new tenancies in the private rental sector and does not measure rents being paid by existing tenants.
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The index shows that average rents for new tenancies in Dublin were €2,011 a month and outside Dublin they averaged €1,130 a month.
The highest standardised average rent in new tenancies for the second quarter of the year was in Dublin at €2,011 per month while the lowest monthly rents were in Donegal, where the standardised average rent in new tenancies stood at €783 a month.
A total of 14 counties have standardised average rents in new tenancies above €1,000 per month during the three months from April to June - Carlow, Cork, Dublin, Galway, Kildare, Kilkenny, Laois, Limerick, Louth, Meath, Waterford, Westmeath, Wexford and Wicklow.
The index shows that the lowest yearly growth in the standardised average rent for new tenancies was in Wicklow where rents fell by 2% while Kildare had the second lowest yearly growth rate, with rents falling by 1.1%.
Niall Byrne, RTB Director, said the latest Rent Index Report shows the national rent level for new tenancies across the country has continued to rise, while there was also a continued decrease in the number of tenancies registered with the RTB in the quarter.
“These results are likely due to a mixture of factors including the continued limited supply of rental accommodation,” he said.
“It is important to state that these results are for new tenancies only and therefore these insights relate to only a small part of the private rental sector in Ireland,” he added.
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