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THE NATIONAL AVERAGE rent has increased yet again by 8.3% as 19 new areas were designated as rent pressure zones.
The latest report from the Residential Tenancies Board (RTB)’s rent index showed that the national standardised average rent is €1,169 per month. This is an 8.3% increase (€90) annually and 2.1% quarter-on-quarter increase.
While growth remains high in Dublin with the average rent of €1,662 per month, an increase of 8.5% (€70) on the previous year, rental inflation has been highest in areas outside the Greater Dublin Area with an increase of 9.6% year on year.
In a bid to make rent affordable in a number of areas, 19 new rent pressure zones were announced today.
These are designated areas where rents cannot be increased by more than 4% per annum.
The new areas are:
Commenting on the latest Rent Index results, Rosalind Carroll, Director of the Residential Tenancies Board said:
“The RTB Rent Index is an important tool in helping understand and inform the rental sector. It is clear that rising rents continue to put pressure on the market. There are a number of complex reasons behind this that policy makers will need to continue to monitor and consider.”
Carroll added: “It is really important that landlords and tenants go to www.rtb.ie where they can check if their rental home is in a Rent Pressure Zone and what rent can be charged.”
The report found that Dublin’s rental market continues to be the largest in the country, accounting for nearly two-in-five new tenancies that were registered with the RTB. The standardised average rent in the capital stood at €1,662 up from €1,532. This is an 8.5% increase annually.
Elsewhere in the country, the second-highest standardised average rents in Q1 2019 were in Cork City at €1,158 per month. However it experienced its slowest growth slowest out of the cities at 7.1%.
Galway City average rents stood at €1,093, with Waterford having the fastest growth rate of 13.7% annually – with a standard average rent of €826.
The new zones were raised in Leaders’ Questions today by Labour Leader Brendan Howlin, who said the rollout of more RPZs is “clearly unsustainable”.
He said the 4% increase cap is essentially giving landlords a “green light” to hike up rents, adding that affordability should be the benchmark.
“We can see thousands of people being pushed out of the rental sector and pushed into homelessness,” said Howlin, who called on the government to increase wages so that people can meet the cost of rising rents.
He also called on the government to modify the RPZ regulations, by setting allowable rent increases by landlords at 1% every three years, rather than the current 4% every two years.
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Oh great. Now we’ll be hearing from all the armchair experts with blindingly simple solutions that the programmers didn’t think of because they were too busy eating their liga and colouring in with their crayons. I can’t wait.
@8bitplebian: I don’t eat liga when I’m coding lol
@Scorpionvenomm: Sorry, Farley’s.
They should turn it off and on again
“British Airways HAVE apologised to ITS customers…”
@Harry Whitehead: British Airways is the name of the company, singular. The airways themselves haven’t actually apologised.
If you are going to be pedantic, at least be right.
@Michael Doyle: If British Airways is to be treated as a singular noun, the correct verbal agreement would be HAS, not HAVE. Try reading it again.
@Harry Whitehead: Exactly. That’s why your original correction was incorrect.
My heads hurt.
@Neal Ireland Hello.: Err…mine wasn’t a correction. I was directly quoting the article. I used capitals to highlight the mistake. Either ‘has + its’ or ‘have + their’.
@Harry Whitehead: Lol, show how much the Irish care about the stranded passengers
@Harry Whitehead: maybe the article has been fixed since you read it first. Further down I do see “British Airways say” , which is conflicting.
@Michael Doyle: Yeah you’re right, it’s been fixed.
@Harry Whitehead: That explains it. Now we can get back to worrying about the group of passengers that are/is stranded.
@Michael Doyle: *WORRY WORRY WORRY WORRY WORRY WORRY WORRY…*
@Michael Doyle: Sorry, couldn’t resist.
I’m glad we got to the bottom of this, gentlemen.
There’s some good deals in pc world, maybe they should get down there
Resilience and redundancy plans anyone??
Probably cloud-based….
Look up its an empty sky.
go back to old system with ticketing, technology is weak, all it takes is one system to go down and the hole lot falls down, flights delayed, or cancelled no good to people travelling or missing connecting flights! then they dump you outside the airport to fend for yourself!
@Stephen Finn:
There is a whole lot wrong with that suggestion.
@Nick Allen: and yet you aren’t arsed pointing out exactly what is wrong with it.
I think you will find they were hacked, but not admitting to the fact. It seems impossible that they would have no redundancy or contingency plan if a data centre was struck by lightning.
Hugo Drax involvement I’ll warrant .
The cancellations also hit flights to Heathrow and Gatwick, I’m in Miami and two flights from here today were cancelled. The staff on the desks said nine flights from New York were also cancelled, they were still suffering a lot of computer glitches while trying to transfer us to alternative flights with different airlines. I was in a queue for about 90 minutes and it then took about another 20 minutes for the desk agent to convince his computer to book me onto a new flight.
I somehow read the hashtag as ‘competence outage’.
Word on the street is the Indians screwed up!!!!!!
have your say