Average rent for a one-bed apartment now at €1,179

The latest rental report from property website Daft.ie shows that the upward pressure on rents in Meath shows no sign of abating and are up an average of 7.3 per cent in the past year.

The average advertised rent in Meath was €1,813 in the third quarter of this year, up 7.3 per cent on the same period last year and up 2.2 per cent on the previous quarter.

Nationally, the average advertised rent was €1,825, up eight per cent year-on-year. In Dublin's commuter counties, market rents rose by 6.2 per cent with the rate of increase slowing from the 11 per cent rise seen a year ago.

In Meath, the average market rent for a one bedroom apartment is €1,179 (up six per cent); €1,420 for a two-bedroom house (up 5.1 per cent); €1,666 for a three-bedroom house (up 7.8 per cent) and €1,934 for a four-bedroom house (up 10.1 per cent). The only property type that rents appeared to fall was for five bedroom houses with an average rent of €1,891 (down 7.7 per cent).

Nationwide, market rents in the third quarter of 2023 rose by an average of 1.8 per cent, compared to the second quarter.

For the third quarter in a row, there was a noticeable difference between trends in Dublin and elsewhere. In the capital, market rents rose by just 0.4 per cent quarter-on-quarter – meaning rents are now 1.3 per cent higher than at the start of the year.

However, outside Dublin, the average increase between June and September was three per cent, and rents are now nine per cent higher than the start of the year.

On 1st November, there were almost 1,800 homes available to rent nationwide, compared to fewer than 1,100 on the same date a year ago. Of the increase of almost 700 homes, Dublin accounted for over 600 of those.