Rents in Wexford increasing once again

Rents in Wexford are increasing at one of the highest rates in the entire country.

That's according to the latest DAFT report which reveals market rents in Wexford were on average 19.7% higher in the third quarter of 2022 than a year previously. In just 3 months rent went up by 8 percent. The average listed rent here is now €1211, up 113% from its lowest point. Speaking to South East Radio News Ronan Lyons, Associate Professor of Economics at Trinity College Dublin and author of the Daft Report says the increases in Wexford are the highest they've seen on record. "When you compare the open market rents now in Wexford with a year ago - it's almost 20% higher. That's one of the highest increases we're seeing in the country at the moment. It's also one of the highest increases we've seen on record going back 15 years. Rents in Leinster's south-eastern counties rose 17.6% year-on-year, reflecting very low availability - just 74 homes were available to rent on November 1, up slightly on a year ago but at low levels compared to the last decade. Nationally, market rents in the third quarter of 2022 were an average of 14.1% higher than the same period a year earlier, as availability of rental homes remained near reached an all-time low, according to the latest Rental Report by daft.ie. The average market rent nationwide between July and September was €1,688 per month, up 4.3% on the second quarter of the year and 120% above the low of €765 per month seen in late 2011