Rents rise in Cork

Rents in the city and county have risen by over 10% in the past year.

The latest rent report from Daft shows renters are now paying an average of €1,607 in the city and €1,258 in the county.

Rents in Munster rose 12.6% year on year, with a lack of supply being cited as the main cause- the property website says there were just 131 homes available to rent in the province on the 1st of May.

Nationally there were just 851 homes available to rent on the same day- down from over 3,600 a year ago.

Author of the report, Ronan Lyons, says it’s down to a lack of supply.

“Conditions are very poor at the moment for renters trying to find somewhere to live.

“And of course, we can see that in the number of homes available to rent, it’s at an all time low in the series goes back over 15 years.

“There were just 850 properties available to rent on the first of May, at the average. Even in 2019 the average was about 3,500, and there’s been a collapse in the last 12 months or so.”

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