Average rent for new tenancies climbs above €1,500 for first time

Dublin had the highest average rent for new rentals at €2,063 per month, with Galway the next highest among the cities at €1,524 followed by Cork at an average of €1,450 per month. File photo

The national average rent for new tenancies has risen above €1,500 for the first time, according to the Residential Tenancies Board (RTB).

Its Q4 2022 Rent Index shows a 7.6% hike in rents compared to the same quarter 12 months earlier. The findings have been described as “further evidence that rents in Ireland are out of control” by Social Democrat housing spokesperson Cian O’Callaghan and “alarming” by housing charity Threshold.