8th February 2024

The Residential Tenancies Board issued out its Rental Index Report today.

• 14,000 tenancies registered in Q3, 2023 reduced substantially from 22,000 in Q3, 2022, a 38% reduction.

• Rent levels in existing tenancies are lower than in new tenancies: Nationally the standardised average rent in Q3 2023 was higher for new tenancies than for existing tenancies (€1,598 vs €1,357), a difference of €240.35 or 17.7% per month.
• Nationally, rent levels in both new and existing tenancies have increased:  Nationally, in Q3 2023 the standardised average rent in new tenancies grew by 11.0% year-on-year and in existing tenancies grew by 5.2%.
• The standardised average rent for new tenancies in Dublin in Q3 2023 was €2,113, or €325 (18.2%) higher than the standardised average rent for existing tenancies which stood at €1,788.
• The standardised average rent for new tenancies in Cork in Q3 2023 was €1,386, or €216 (18.5%) higher than the standardised average rent for existing tenancies which stood at €1,170.

 

A copy of the report can be found here.