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Rents in Louth up €82 in the last year

Rents in Louth up €82 in the last year

The standardised national average rent for new tenancies in County Louth has risen by €82 in the last year.

That’s according to the latest Rent Index report from the Residential Tenancies Board (RTB).

Their report for Q1 2018 shows that the standardised average rent for a new tenancy in Louth now stands at €966. This is up from €884 this time last year – an increase of 9.3%.

It has also risen by €28 since their last report at the end of 2017 – a rise of 2.9%, which was the largest quarterly increase recorded nationally after Kerry (4.4%).

The figures were contained in the RTB’s Quarter 1 2018 Rent Index Report which was published today in conjunction with the Economic and Social Research Institute (ERSI).

Drogheda is the dearest electoral area in the county to rent at €1048.72. This is followed by Dundalk South (€987.18), Ardee (€886.11) and Dundalk Carlingford (€843.08).

Rents in Louth are now higher than in the boom, according to the RTB, having peaked at €880 in Q4 2007.

They have also risen by 56.6% since falling as low as €617 in Q2 2012.

The report, based on 19,879 new and renewed tenancies in Q1 2018 showed that in Dublin the average rent for new tenancies stood at €1,527, in the greater Dublin area (Meath Wicklow & Kildare) it was €1,104; outside of the Greater Dublin Area, new average rents were €791.

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