Average Wexford rent is now €564
Published 15/12/2015 | 00:00
THE average private rent in County Wexford for the third quarter of the year was €564.
This was up €9 when compared to the average rent in the second quarter when the amount was €555, and was up €17 when compared to a year earlier in the third quarter of 2014. The data comes from the latest PRTB Quarterly Rent Index and is based on properties registered with the PTRB and which is compiled by the Economic and Social Research Institute (ESRI).
It is the most accurate and authoritative rent report of its kind on the private accommodation sector in Ireland because it is based on the actual rents being paid, according to the PRTB's records, as distinct from the asking or advertised rent.
Monthly rents for private sector accommodation across the country were 8.6 per cent higher at the end of September this year compared with the same period last year. Nationally, rents for houses were 7.7 per cent higher, while apartment rents were 9 per cent higher than in the third quarter of 2014.
Commenting on the provisions of the new Residential Tenancies Act, the Director of the PRTB, Anne Marie Caulfield, said it is very important that both landlords and tenants are aware of the new tenancy legislation which has just been passed.
It provides that rent may only be increased once in a 24-month period (previously 12 months). It also provides that 90 days advance notice must be given prior to any increase (previously 28 days). As previously, rents may not be more than the market rate.
The PRTB Rent Index provides information on average rents for 5 property types in 446 locations country-wide. In the event of a dispute, landlords and tenants can take a case to the PRTB for a fee of €15.