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- Market rents rose by an average of 5.7% during 2024, according to the latest Rental Report by Daft.ie, down slightly from the 6.8% increase seen in 2023.
- The average open-market rent nationwide in the final quarter of the 2024 was €1,956 per month, up marginally quarter-on-quarter and 43% higher than before the outbreak of covid19.
- Inflation in market rents in Dublin continues to converge with rates seen elsewhere in the country.
- In the capital, rents in the final quarter of the year were 4% higher than a year earlier, while outside Dublin, they were 7% higher on average – the smallest gap in almost two years.
- In Cork and Galway cities, rents rose by 10% during 2024, while in Waterford city, they rose by 7.4%. In Limerick, however, inflation remains very high, with market rents increasing by 19% during 2024. Outside the cities, rents increased 6.2% on average.
- While the availability of homes to rent improved during most of 2023 and 2024, especially in Dublin, in recent months, the number of homes available to rent on the open market has fallen.
- On February 1st, there were fewer than 2,300 homes available to rent across the country, down one quarter on the same date a year previously and well below the 2015-2019 average of almost 4,400.
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Market rents rose by an average of 5.7% during 2024, according to the latest Rental Report by Daft.ie, down slightly from the 6.8% increase seen in 2023. The average open-market rent nationwide in the final quarter of the 2024 was €1,956 per month, up marginally quarter-on-quarter and 43% higher than before the outbreak of covid19.
Inflation in market rents in Dublin continues to converge with rates seen elsewhere in the country. In the capital, rents in the final quarter of the year were 4% higher than a year earlier, while outside Dublin, they were 7% higher on average – the smallest gap in almost two years. But significant differences around the country remain. In Cork and Galway cities, rents rose by 10% during 2024, while in Waterford city, they rose by 7.4%. In Limerick, however, inflation remains very high, with market rents increasing by 19% during 2024. Outside the cities, rents increased 6.2% on average.
While the availability of homes to rent improved during most of 2023 and 2024, especially in Dublin, in recent months, the number of homes available to rent on the open market has fallen. On February 1st, there were fewer than 2,300 homes available to rent across the country, down one quarter on the same date a year previously and well below the 2015-2019 average of almost 4,400.Link to full report here.
