RENT prices in Limerick remained relatively stable from April to June of this year, according to the Daft.ie 2013 Q2 Rental Report.
The report revealed that the average rent in the city in the second quarter of this year was €642 per month, a fall of just 0.2 per cent on the first quarter.
In the county, the average rent was €583, representing a drop of 0.7 per cent.
The situation in Limerick contrasted with other cities in Ireland as prices in Dublin rose by 7.5 per cent, while rents in Cork and Galway increased by two and three per cent respectively.
Rental prices in Waterford fell by three per cent.
Daft.ie economist Ronan Lyons commented: “It is worth contrasting Cork and Galway, where rents are rising gently, with Limerick and Waterford, where rents continue to fall.
“The good news is that the problem is also the solution. Cities like Waterford and Limerick compete with others, both in Ireland and abroad, on costs as well as productivity. Low costs of accommodating workers is good news from a competitiveness point of view and as the cost of housing and office space in Dublin rises, cities like Limerick and Waterford will become more competitive.”
Overall, prices in Limerick were down 25.6 per cent from peak Celtic Tiger prices.
The average rent for one-bedroom accommodation in Limerick city is €464 a month, rising to €585 for two bedrooms and €720 for three bedrooms.
With regard to student accommodation, the average rate for a single room in Limerick city centre was €255 a month – a rise of 7.1 per cent – while a single room in the suburbs cost €234 per month, a 4.5 per cent increase on quarter one.
Limerick had one of the cheapest rates for student accommodation in the country, with only Waterford reporting lower rates at €244 per month.
In Dublin city, students pay €433 a month on average for a single room, this falls to €286 in Cork, €281 in Galway and €280 in Maynooth.
