DAFT’s most recent report found that rents continued their downward trend, falling 5 per cent on average in the second quarter of the year – the months April to June end. The national average rent in July 2009 was 806 euro, compared to its value of 1,017euro in early 2008.
Limerick is faring more steadily for most which is good news for landlords and rather less than good if you are in the tenant category. With a glut of housing available in newly-urbanised villages and city centres, these places are worst affected.
In Dublin, rents fell by up to 7 per cent in the past three months (South Dublin city excepting, still premium residential zone), while Cork and Limerick, where rents were lesser even in peak property times, fell by 5 per cent.
1000euro annually is the likely saving estimated by Daft.ie on a two-bedroom property in Galway and Limerick.
Falls in Waterford and Galway were smaller, similar to the 4 per cent falls on average outside the main cities over the last three months.
With CAO points out yesterday, the latest trends will be welcome news for new and returning college students. A typical student renting a double-room in Dublin could now expect to save up to 1,000euro on average over the course of the coming academic year.
