Market rents continue to rise in Wexford

In Wexford, market rents were on average 18.7% higher in the first quarter of 2023 than last year.

That's according to the latest report from daft.ie. It shows the average listed rent in Wexford is now 1,276 euro up 125% from it's lowest point. Rents in Leinster's south-eastern counties rose 14.8% year-on-year, reflecting very low availability - just 57 homes were available to rent on May 1st, up slightly on a year ago but almost one third the level seen in the region during the late 2010s.In Wexford, market rents were on average 18.7% higher in the first quarter of 2023 than a year previously. The average listed rent is now €1276, up 125% from its lowest point. The latest report also shows private rents have risen by around 12% in the past year, however the quarterly increase was just 1% for the first three months of this year. Rents in Dublin are rising at a steady pace.The average market rent nationwide between January and March was €1,750 per month. That's compared to €1,387 in the first quarter of 2020 and a low of just €765 per month seen in late 2011. With just 57 homes available to rent on May 1st, Ronan Lyons told South East Radio that things have improved but not near enough. As in recent quarters, the upward trend market rents around the country is driven by extraordinary shortages in the availability of rental accommodation. Nationwide, there were just 959 homes available to rent on May 1st . While this is up 13% on the same date last year, it still represents one of the three lowest totals for availability at the start of the month in a series that extends back to the start of 2006. The availability of rental homes is approximately one quarter the average level of availability during 2015-2019. You can hear Ronan Lyons full interview on 'Morning Mix' here: https://pod.space/morningmix/rent-in-wexford-is-up-by-18-and-professor-ronan-lyons-of-daft-ie-chatted-to-alan 'Morning Mix' with Alan Corcoran airs weekdays from 10am to 12pm on South East Radio.