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Residential rents rise 9% nationally in 2015

Residential rents increased by 9% over the course of last year, this compares to an increase of 10.7% reported in 2014, according to the latest quarterly report from property www.daft.ie.

The average monthly rent being paid between October and December of 2015 was €979, compared to €898 over the same period a year previously.

At the end of last year the average rent was close to €1,000, with values up 9% nationally.

Rent increases were higher in regional cities, with Cork seeing them jump by more than 15%.

Year-on-year change in rents – major cities, Q4 2015

Dublin €1,435 up 8.2%
Cork €978 up 15.4%
Galway €887 up 13.3%
Limerick €778 up 12.4%
Waterford €673 up 10.3%