Rent prices soaring in Donegal

first_imgThe average cost of renting in Donegal has risen by 6.8% as the number of homes available to rent has dropped.The latest report from Daft.ie shows that the average rent price in Donegal was €561 in the third quarter of 2016.The average one-bed apartment is €413, while a 5-bed house stands at €693 – a rise of 12.6% compared to this time last year. The rise is directly attributed to a shortage in housing. There were fewer than 650 homes available to rent in Connacht and Ulster on October 1st, down almost 100 on a year previously.Room rentals are also rising in the Donegal area, with the report showing that single rooms in Ulster are costing on average €252 – 11.5% more than 2015. A double room in Donegal, Cavan or Monaghan costs €284 – 10.6% more than the previous year.The report also showed that Donegal is the third cheapest place in the country to rent.The report today presents a grim picture of rent price increases across the country. The annual rate of rental inflation in Ireland is now 11.7%, the highest recorded by the Daft.ie Report since its series start in 2002.Rents are rising at double-digit rates in many areas nationwide, with the biggest increases mainly in Leinster and Munster. The average cost of renting in certain Dublin areas is now 10% higher than the peak prices during the Celtic Tiger.  Rent prices soaring in Donegal was last modified: November 8th, 2016 by Rachel McLaughlinShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more