Tipperary rents are still on the rise according to new RTB figures
New figures published by the Residential Tenancies Board have revealed that Tipperary rents have climbed 4.4% since quarter four of 2021.
Year on year Tipperary rents increased by 11.6%.
When broken down by LEA, Nenagh rents had decreased to €921.24 (from €981.14).
Clonmel rents exceeded Nenagh and their own 2021 quarter four figure to €989.48 (from €918.24).
Nationally
Nationally, rents in new tenancies rose by 3.3% since last quarter and 9.2% annually.
The average rent stood at €1,460 per month.
Nationally this means rents continue to rise.
For Tipperary that growth is higher than the national average.
RTB Director Niall Byrne, said that while rent costs increase, the amount of new tenancies fall.
“We also see a continued fall in the number of tenancies that were registered with the RTB in Q1 2022. These results are likely still indirectly impacted by covid-19 public health measures along with constraints in supply and tenants choosing to stay longer in their existing tenancies.
According to the Index, there were 10.3% new tenancies in Tipperary since quarter four of 2021.
Nationally, new tenancy numbers decreased by 32% on a year on year basis.
“In reading the Index, it is also important to note that these results only provide us with a snapshot into a small proportion of the private rental sector in Ireland,” said Mr Byrne.
The Rent Index
The RTB Rent Index measures differences in new tenancies. Therefore long term rentals are not included.
The index does include new tenancies in existing properties, new properties and those that have not been let in two years.
The RTB uses a standardised average rent for comparison purposes.
This is a mix of property types and characteristics. So, the average rent is calculated irrespective of whether it’s a house, apartment or the number of bedrooms.
The RTB are also reminding landlords that they must now register their tenancies every year.
They say they are aware of issues using the online system and are working to rectify the situation.