Laois rents soar by 14 per cent

The cost of renting property in Laois has soared by 14 per cent, rising to a monthly average of €1,476, according to the latest report from Daft.ie.

There were just six properties available to rent in Laois on the Daft.ie site today showing the low level of supply in the market. 

The Irish Rental Report for the final quarter of 2023 reveals that the average cost of renting a one bed apartment in the county is now €959, an increase of 14.5 per cent.

Renting a two bed house in Laois will now set you back on average €1,150 per month, representing an increase of 12.7 per cent. The cost of renting a three bed house has risen by 16.5 per cent compared to the year previous now standing at €1,364.

The average cost of renting a four bed house rose by 16 per cent up to €1,559. The biggest increase was the cost of renting a five bed house in Laois which has risen by a massive 26 per cent in the last 12 months and now stands at an average of €1,781 per month. 

https://www.leinsterexpress.ie/news/property/1427485/pictures-unique-laois-house-with-eye-catching-features-hits-the-market-for-415-000.html

This compares to mortgage repayments of €386 for a one bed apartment; a monthly mortgage repayment of €564 for a two bed house; a mortgage repayment of €801 for a three bed house; €1,499 for a four bed house and a mortgage repayment of €1,603 for a five bed house in the county. 

Nationally, market rents rose by an average of 6.8% per cent during 2023. This compares with an increase of 13.7 per cent seen during 2022 and 10.3 per cent in 2021. The average open-market rent nationwide in the final quarter was €1,850 per month, compared to €1,365 per month seen at the outbreak of Covid-19 in early 2020.