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Rent rockets Working from home sees rents skyrocket across the country with average up 7pc

Every county saw an increase in rents, with the exception of Wicklow

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More people are working from home. Stock image

More people are working from home. Stock image

More people are working from home. Stock image

Rents have jumped in the capital - but it's beyond Dublin that is seeing the biggest price hikes.

Every county saw an increase in rents, with the exception of Wicklow.

Rents rose by 4.5pc across the State in the first three months of the year compared with the same quarter last year. Rental inflation stood at 7pc outside Dublin compared with 2pc in the capital.

The average rent nationwide is now €1,320, an increase of €33 compared with the last three months of last year, according to the regulator, the Residential Tenancies Board (RTB).

In Dublin, the average rent is €1,820 a month. The lowest monthly rent was in Leitrim at €596 a month.

Wicklow was the only county to record a fall in annual rents in the first quarter of this year compared with the same period last year.

Kilkenny recorded the fastest-growing rental costs with a rise of 12.3pc. Clare, Galway and Mayo all had annual growth above 10pc.

Pandemic-related restrictions are being cited for a fall in the number of tenancies registered with the RTB.

There are currently 15,532 tenancies registered, down from 16,235 before Christmas.

Stillorgan, Co Dublin, is the most expensive place to rent, with monthly rents of an average €2,378. The lowest is the Lifford-Stranorlar area in Co Donegal at €566 a month.

RTB statisticians said the average rent nationwide for houses stood at €1,304, up 7pc in the year. Average rent for apartments stood at €1,351 a month, which is an increase of 2.2pc in the year.

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Meanwhile, property prices continue to rocket. Residential prices were up by 5.5pc nationally in the year to May - the fastest pace of increase in two-and-a-half years.

In Dublin, prices saw an increase of 4.9pc in the year to May, while property prices outside Dublin were 6.2pc higher.

The highest house price growth in Dublin was in South Dublin at 6.6pc, while Fingal saw a rise of 4.3pc.

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