Advertisement

Two more areas designated as rent pressure zones

Two more areas of the country will be designated as rent pressure zones. Rents in both Navan in C...
Stephen McNeice
Stephen McNeice

07.21 28 Mar 2019


Share this article


Two more areas designated as r...

Two more areas designated as rent pressure zones

Stephen McNeice
Stephen McNeice

07.21 28 Mar 2019


Share this article


Two more areas of the country will be designated as rent pressure zones.

Rents in both Navan in County Meath and Limerick City East will see rent increases limited to a maximum of 4% per year.

They're the first areas to receive the designation in 18 months.

Advertisement

The announcement comes alongside the release of the Residential Tenancies Board's latest Rent Index.

The figures show that annually national rent increased by 6.9% to €1,134 in quarter 4 2018 - an increase of €73 compared to the same period the previous year.

However, quarter on quarter rents fell by 0.3% nationally.

That compares to rental price inflation of 2.3% in the previous quarter.

In Dublin, the average rent in the last quarter of last year was €1,650.

That's an increase of €120 compared to the previous year, but down from €1,663 the previous quarter.

Residential Tenancies Board

Rosalind Carroll, director of the Residential Tenancies Board, said 2018 was another year with continued rent inflation and pressures in the market.

She added: "We have seen some moderation in the market in the last two quarters, we would hope with more supply coming on stream and the RTB getting more regulatory powers that we will see further easing of rent inflation in 2019.

"We're still seeing increases on an annual basis, but for the first time since early 2017 we've seen a reduction in the quarter."

On the subject of the new rent pressure zones, she explained that these are the first areas to receive the designation since September 2017.

Ms Carroll observed: "This should help moderate rents in these areas.

"We would encourage both landlords and tenants to contact us for more information on their rights and obligations and we will be rolling out a targeted information campaign in these areas over the coming weeks."

Main image: File photo. Picture by Mark Stedman/RollingNews.ie

Share this article


Read more about

Rent Rent Pressure Zones Residential Tenancies Board

Most Popular