House rental prices soar with Wexford recording 12.1% increase
County Wexford housing rents rose by 12.1% in the second quarter of 2018, keeping largely in line with the national average increase.
The latest report by Daft.ie shows an all-time high for rents, with the average monthly rent in Wexford standing at €805, a 48% increase on its lowest point.
According to the report, the average cost of a one-bed apartment has risen by 13.1% to €576; a two-bed house has risen 13.1% to €668; a three-bed house by 9.5% to €782; a four-bed by 10.9% to €861; and a five-bed by 15.8% to €944.
In relation to the argument of 'rent or buy', figures for a mortgage rate of 4.3% and with a two-point percentage rise, are coming in lower than rent prices in most areas.
Rent for a one-bed apartment is €576, by comparison to a mortgage rate of between €309 and €390. For a two-bed house, rent was €668, in comparison to mortgage rates of between €407 and €513. Renting a three-bed house comes in at €782, over mortgage payments of between €560 and €706. The average monthly rent of a four-bed house comes to €861, over mortgage payments of between €1,030 and €1,298. Similarily, a five-bed house costs approximately €944 to rent, while mortgage repayments range between €1,095 and €1,380.