The fastest rising rental costs in the South East region is in County Kilkenny.
The latest report from Daft.ie shows rents across the country are now 43% higher than before the Covid pandemic.
Market rents in Leinster's south-eastern counties rose 8.5% year-on-year, compared to 12.4% earlier in the year.
The on-going increase in rents reflects very tight availability, with just over 120 homes available to rent on November 1st, up slightly year-on-year but still well below the late 2010s average.
South East
In Kilkenny, market rents were on average 11.7% higher in the third quarter of 2024 than a year previously.
The average listed rent is now €1576, up 57% from the level prevailing when the Covid-19 pandemic occurred.
In Tipperary, market rents were on average 11.1% higher in the third quarter of 2024 than a year previously.
The average listed rent is now €1422, up 65% from before the pandemic.
In Carlow, market rents were on average 7.9% higher in the third quarter of 2024 than a year previously.
The average listed rent is now €1545, that's up 56% before Covid-19.
In Wexford, market rents were on average 6.9% higher in the third quarter of 2024 than a year previously.
The average listed rent is now €1452, up 68% from the level prevailing when the Covid-19 pandemic occurred.
In Waterford City, rents have risen by 5.8% in the last year and the average rent is now €1639.
In the rest of Waterford, market rents were on average 9.3% higher in the third quarter of 2024 than a year previously.
The average listed rent is now €1633, up 68% from the level prevailing when the covid19 pandemic occurred.
Ireland
Nationwide, market rents rose by an average of 1.7% in the third quarter of 2024, according to the latest Rental Report by Daft.ie, marking the fifteenth consecutive quarter in which rents nationwide have increased.
The average open-market rent nationwide in the third quarter of the year was €1,955 per month, up 7.2% year-on-year and 43% higher than before the outbreak of covid19.
Commenting on the report, Ronan Lyons, Associate Professor in Economics at Trinity College Dublin and author of the Daft.ie Report, said: “This latest Rental Report confirms the signals that emerged three months ago that upward pressure is building once more in Dublin. During 2023, as Dublin experience a significant pipeline of new rental homes, it enjoyed very little inflation in rents, as supply and demand were largely in balance.
"However, the upswing in construction of rental homes in Dublin is over. As the rate of building of rental homes continues to fall, Dublin is likely to resemble the rest of the country, where availability has been incredibly tight over the last three years, leading to dramatic increases in open-market rents.
"When thinking about boosting housing supply, owner-occupied homes and social housing have dominated policymaker attention over the last few years. The new government will have to address the lack of supply of private rental housing early in its term, if it is to bring about a change in conditions similar to what Dublin enjoyed in 2023 but across all rental markets.”
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