Mayo sees rents rise 7.3 percent

Ciara Moynihan

In the first quarter of 2018, Mayo property rental prices were on average 7.3 percent higher than they were during the same period a year ago. The average advertised rent in the county is now €654, up 26 percent from its lowest point, according to the latest Daft.ie report.
Depressingly for young couples or single would-be renters in Mayo, the biggest rises were seen in the smaller dwellings. The average rent for a one-bed apartment in the county is currently €471, a rise of 8.4 percent compared to this time last year. A two-bed house will cost on average €540 (a 8.5 percent rise); a three-bed house, €636 (a 6.9 percent rise); a four-bed house, €699 (a 7.2 percent rise); and a five-bed house, €731 (3.5 percent rise).
While the figures are not broken down further, anecdotal evidence suggests that Westport still commands higher prices than anywhere else in the county. A search on Daft.ie reveals that the least expensive apartment for rent in Mayo is in Ballinrobe, where you can rent a three-bed for €95 a week. The cheapest apartment in Westport was a one-bed for €120 per week.
The most expensive apartment for rent in Mayo at time of writing was in Westport: €1,000 per month for a three-bed apartment at Ashwood Meadows. However, Castlebar did come a close second with a two-bed apartment at Spencer Manor for €900 a month.   
Rents rose nationwide by an average of 11.5 percent in the year to March 31, according to the latest quarterly Rental Report by Daft.ie. This represents the eighth consecutive quarter in which annual inflation in rents has been greater than 10 percent, and also a new all-time high.
While at €654, the average rent in Mayo has climbed high, it is still a lot easier to swallow than the nationwide average, which is almost double that figure, at €1,261. This national average is driven higher by the rents demanded in the urban centres, such as Dublin, Cork and Galway, where employment opportunities and incomes are also a good deal higher.
In Dublin, the average rental property currently charges €1,875 per month.

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