independent

Friday 15 December 2017

Wexford rents up by almost 11 per cent

rents in Wexford rose by almost 11 per cent in the year to the end of September, according to the latest report from the website Daft.ie.

The Wexford rise is almost the same as that nationally, but is less than neighbouring Carlow and Wicklow, where rents rose by 11.5 per cent - Carlow to €820 and Wicklow to an eye-watering €1,236 a month.

Wexford rents by comparison are €741 a month, up 37 per cent from their lowest point.

Ronan Lyons, economist at Trinity College, Dublin, and author of the Daft Report, said: 'Rents continue to rise, and rise at close to record rates, due to an acute and worsening shortage of accommodation.

'Four of the five largest quarterly increases in rents have now occurred since the start of 2016 and rents in 46 of the 54 markets covered in the report now exceed their Celtic Tiger highs. Rents in some parts of Dublin have now risen by 90 per cent from their lowest levels in 2011.

'The country needs at least 40,000 and probably closer to 50,000 new homes a year, to meet underlying demand.

As Ireland catches up with its peers in terms of demographics and urbanisation, the construction effort should focus on apartments, of all types, in major urban areas,' he said.

Wexford People

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