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24 May 2022

Offaly TD troubled as rents continue to rise in the county

Offaly TD troubled as rents continue to rise in the county

Offaly TD troubled as rents continue to rise in the county

Independent Offaly TD Carol Nolan has described the latest findings from the Daft.ie Rental Report as "deeply troubling" for Laois-Offaly.

Deputy Nolan was speaking after statistics in the report confirm that for the 27th quarter in a row, rents have risen nationally, quarter-on-quarter. They also show that for the 13th time in those 27 quarters, rents rose quarter-on-quarter not just on average nationally but in each of the 54 markets analysed in the report:

“The average rent in Offaly has now risen by 8.5% to €884 while the average rent in Laois has jumped by 10.7% to €921."

"This will cause massive levels of anxiety to those dependent on the rental market for a roof over their heads," Deputy Nolan said.

"What is also deeply disturbing is the finding that as on May 1, there were just 2,700 properties available to rent nationwide on Daft.ie."

This is the lowest ever figure for stock on the market, in a series that goes back to the start of 2006."

"Clearly, these findings are a damning indictment of government policies aimed at containing massive rent escalations and prove pretty definitively that a completely new direction in thinking is needed."

"The findings for Offaly are pretty stark. They show that the average mortgage for three-bed house is between €501 and €633. However, the rent for the same type of property is €849."

"For Laois, the average rent for a three-bed is between €498 and €629 while the average rent is €900."

"This Report is certain to cause enormous concern and rightly so,” concluded Deputy Nolan.

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