The RTB Rent Index for quarter four 2019 issued today, shows a 6.4% annual increase in national standardised average rents, the lowest recorded annual increase since Q1 2014.
- In Dublin, the standardised average rent is now €1,716 per month, up 5% (€82) year-on-year.
- On a quarterly basis, the Dublin standardised average rent decreased by €33 (-1.9%) in comparison to Q3 2019.
- The Q4 2019 RTB Rent Index shows the national standardised average rent was €1,226 per month.
- Outside of Dublin, the standardised average rent is considerably less, standing at €922 in Q4 2019.
- National Standardised monthly rent – New Tenancies €1278 vs Existing Tenancies €1036
Five new Local Electoral Areas were added to the existing Rent Pressures Zone designations as of the 22nd April 2020, Rent Pressure Zones are designated Local Electoral Areas where rents can only rise by up to 4% per annum, and the rent can be no more than market rent. The newly designated areas are outlined below:-
|Local Electoral Area||County||Year-on-year Change in Rents||Number of Quarters >7% growth||Standardised average rent Q4 2019|
For an area to be designated as an RPZ, it must meet the following criteria:
- Criteria 1: The annual rate of rent inflation in the area must have been 7% or more in four of the last six quarters.
- Criteria 2: The rent is above the comparison standardised average rent, which is appropriate for that area.
Infographic information can be found here and a full copy of the report can be accessed here.