Latest Daft.ie report sees Mayo property getting more costlier

In Mayo, there has been an increase of 2.9 percent in rent prices, according to the latest report on Daft.ie.

The average price of rent is €1,299 in Mayo, with availability of properties down 20 percent compared to this time last year.

In 2024 there were fewer than 270 homes available to rent in the Connacht-Ulster region on February 1st, which is down over 20 percent on the same date a year previously and almost two thirds from the 2015-2019 average.

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Room rents are up 9 percent with cost of renting a room in Connacht-Ulster 9.3% higher on average in the final quarter of 2024 than a year earlier.

On a national level, across the 54 markets covered in each Daft.ie Rental Report, market rents were over 5 percent higher on average in the final quarter of 2024 than a year previously.

"While inflation is rising, from a low base, in Dublin - at 4 percent for the year - it remains much higher in other cities, at 10 percent in Cork and Galway and almost 20 percent in Limerick. Elsewhere in the country, inflation has slowed, from close to 11 percent on average during 2023 to just over 6 percent in 2024," the report says.

Ronan Lyons, Associate Professor in Economics Trinity College Dublin said that, "the new government is learning old lessons.

This latest Daft.ie Rental Report shows that, once again, rents are rising almost everywhere in the country.

Over the course of 2024, rents rose in 52 of the 54 markets covered in the country. This makes it the fourth year in a row – and tenth in the last 11 years – where at least 50 markets of the 54 covered saw rents rise."

The full report can be found here.