Rising rents means two more areas have been designated Rent Pressure Zones

Two more areas in Ireland meet the designation criteria for Rent Pressure Zones in Ireland, according to the Residential Tenancies Board (RTB).

The RTB have released a report which shows that rents went up 6.6% by the end of June this year when compared to June in 2016, though they have pointed out the rate of increase in the second quarter of this year was marginally slower than in the first quarter.

They said that the average national rent stood at €1,017 per month in Q2 of 2017, up by €63, compared to the same period last year, when it was €954.

Demand for rented accommodation in Dublin is "very high" where rents are now 10.8% higher than in Q4, 2007. In the second quarter of this year rents in Dublin went up by 3.3% with apartment rents now 14.7% above the previous peak of Q4, 2007.

Outside Dublin rents are 3.8% below their 2007 peak levels.

This data is contained in the Q2 2017 Rent Index Report of the Residential Tenancies Board (RTB), produced in conjunction with the Economic and Social Research Institute (ESRI).

The main Index for the RTB Quarterly Rent report is compiled on the basis of rents registered with the RTB for each Local Electoral Area (LEA) throughout the country, and was developed following the introduction of Rent Pressure Zones by the Government in December 2016.

Based on the latest data, two more LEAs meet the designation criteria for rent pressure zones: Drogheda and Greystones.

    The 21 Rent Pressure Zones are:

  • Dublin City Council,

  • South Dublin County Council,

  • Dun Laoghaire/ Rathdown County Council,

  • Fingal County Council,

  • Cork City Council,

  • Cobh,

  • Maynooth,

  • Ballincollig - Carrigaline,

  • Galway City Central,

  • Galway City East,

  • Galway City West,

  • Celbridge - Leixlip,

  • Naas,

  • Kildare - Newbridge,

  • Ashbourne,

  • Laytown - Bettystown,

  • Rathoath,

  • Bray,

  • Wicklow Town,

  • Drogheda,

  • Greystones.

The Director of the RTB, Ms Rosalind Carroll, said: "The findings for the second quarter of this year are a further reflection of the ongoing pressure in the rental sector as demand continues to outstrip supply, and with two further areas, Drogheda and Greystones, meeting the RPZ criteria.

"Annually in the Dublin market we have had 3 quarters showing decline in the annual rate of growth from 8.5% to 6.4% and 5.8% respectively. However, we did see quarter on quarter growth of 3.3% in Quarter 2 in Dublin and we would have liked to have seen more evidence of further dampening of the market.

"We would encourage any existing, or new tenants, who are faced with increases over and above the 4% cap to refer a dispute to the RTB, and the same advice applies to tenants entering a new tenancy.

"Even if a tenant has agreed to a rent in excess of the limit and signed a tenancy agreement, they are still protected under the law; they cannot contract out their rights. If a landlord has been found not to have not adhered to the limits, it can have significant consequences and damages of up to €20,000 can be awarded as well as repayment of the additional rent. Cases can be referred to the RTB up to six years after the tenancy was in place."


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