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Irish Independent
20-05-2025
- Business
- Irish Independent
‘It's out of control' – Clare rents rise by more than ten per cent as housing shortage drives up prices
According to the latest Rental Report by market rents rose by an average of 3.4 per cent in the first three months of 2025, one of the largest three-month increases in the last two decades. The report also found that the increase in rent is being made worse by an increasing shortage of housing across Ireland. In Clare, market rents were on average 10.4 per cent higher in the first quarter of 2025 than a year previously. The average listed rent is now €1503, up 70 per cent from the level prevailing when the covid19 pandemic occurred. In the report, the figures show that the average rent for a two-bedroom house in the county had risen by nearly 10 per cent since the last quarter, from €1,152 to €1,344 (9.8 per cent). Kilrush Independent Councillor Ian Lynch said that the current housing situation has become the main issue voiced by residents and prices are 'squeezing out' families in the county. 'It's getting out of control' he told the Irish Independent. Recently Cllr. Lynch has led calls for a clampdown on landlords illegally inflating rents in Clare and has asked the Housing Minister James Browne to review legislation which he claims is worsening the effects of the housing crisis on tenants. He went on: 'Currently, the only available properties are not long term rates, they are short term rates. Our neighbours are paying 800 euros a month. Its squeezing out families. Five or six years ago, [councillors] were dealing with potholes. In the past six months, it has been all about housing. 'There's a huge amount of families that have been only given a couple of weeks' notice by their landlords to move out of their homes. They're facing homelessness. We have no choice but to get them emergency accommodation.' Cllr. Lynch said the solution was not just to tackle the housing shortage: 'More houses are needed, but we also have to start looking at the cost of living across the board, because it is also the issue – rents are rising because landlords need to pay their bills. Families are working multiple jobs just to make ends meet. We have to make housing affordable.' ADVERTISEMENT Learn more Meanwhile, the average open-market rent nationwide in the first quarter of 2025 was €2,053 per month, up from a low of just €765 in 2011 and 48 per cent higher than before the outbreak of covid19. Market rents rose by an average of 3.4 per cent in the first three months of 2025, according to the report, one of the largest three-month increases in the last two decades. The average open-market rent nationwide in the first quarter of 2025 was €2,053 per month, up from a low of just €765 in 2011 and 48 per cent higher than before the outbreak of covid-19. Pressure on rental markets in Ireland's cities outside Dublin remains acute. In Waterford, market rents in March were up 9.9 per cent year-on-year, while in Cork and Galway cities, they were up 13.6 per cent and 12.6 per cent respectively. But once again, Limerick has seen the largest increases, with rents up over 20 per cent year-on-year. Outside the major cities, rents in Leinster and Connacht-Ulster were up just over 5% year-on-year, while rents in Munster were 11.5 per cent higher. There were just over 2,300 homes available to rent nationwide on May 1st, down 14 per cent year-on-year. This is the third lowest total for May in twenty years and close to half the 2015-2019 average for availability of homes to rent. Commenting on the report, its author Ronan Lyons, Professor in Economics at Trinity College Dublin, said: 'The average open-market rent nationwide exceeds €2,000 a month for the first time, up from below €1,400 a month just five years ago. The sustained increases in rents in the open market are being driven by an acute and worsening shortage of rental housing. Unfortunately, changes made to rent controls in 2021 dramatically reduced the ability of Ireland's rental sector to attract the capital needed for new supply, the ultimate remedy for the shortage. The opportunity exists for the government to reform those controls and facilitate the emergence of a new pipeline of rental homes. Nonetheless, further supports will be needed to encourage new rental supply outside of the Greater Dublin Area.'
Irish Independent
19-05-2025
- Business
- Irish Independent
Average monthly rent now €1,400 in Sligo
The average listed rent is now €1398, up 81% from the level prevailing when the covid19 pandemic occurred. Market rents rose by an average of 3.4% in the first three months of 2025, according to the Rental Report by one of the largest three-month increases in the last two decades. The average open-market rent nationwide in the first quarter of 2025 was €2,053 per month, up from a low of just €765 in 2011 and 48% higher than before the outbreak of covid19. Pressure on rental markets in Ireland's other cities remains acute. In Waterford, market rents in March were up 9.9% year-on-year, while in Cork and Galway cities, they were up 13.6% and 12.6% respectively. But once again, Limerick has seen the largest increases, with rents up over 20% year-on-year. Outside the major cities, rents in Leinster and Connacht-Ulster were up just over 5% year-on-year, while rents in Munster were 11.5% higher. There were just over 2,300 homes available to rent nationwide on May 1st, down 14% year-on-year. This is the third lowest total for May in twenty years and close to half the 2015-2019 average for availability of homes to rent.
The Irish Sun
19-05-2025
- Business
- The Irish Sun
‘You're winding me up' says Ireland AM star as Tommy Bowe leaves co-hosts fuming during housing discussion
IRELAND AM star Tommy Bowe left his shocked co-hosts fuming during a heated discussion on air. The Virgin Media star and his co-hosts 4 Muireann, Tommy and Alan spoke about housing issues in Ireland Credit: VMTV 4 Muireann and Alan challenged Tommy's opinion on air Credit: VMTV 4 Tommy argued with Muireann and Alan Credit: VMTV While reading out the daily paper headlines, the three presenters spoke about housing issues in Ireland. It was revealed this week that the average rent nationwide in the first quarter of 2025 was €2,053 a month, according to the latest Rental Report published by This means that Ireland has seen one of the largest three-month increases in two decades. Speaking about this matter, Alan said: "You just find it hard to believe that we we talk about this all the time and you go, 'No it can't get it can't get higher, it can't get higher', and then it just does." read more on ireland am Reading out a viewer's message, Tommy added: "I mean Patrick's saying the root cause of high cost of rent and prices is all down to one thing - greed. And to be fair when the demand is there the prices are going to go up..." Muireann attempted to interrupt Tommy to give her two cents, but the former rugby player didn't stop talking. He said: "But at the same time, landlords don't have to be looking, you know, pushing prices up price. There could be a bit of goodwill out there but because the demand is there." read more on the irish sun Muireann, who had tried to butt into the conversation multiple times, finally got a word in as she responded to Tommy saying: "You talk about building houses. It's all well and good building houses but if all those houses go up on Airbnb what's the point? It's not servicing the people." Ireland AM stars confront TD on air Tommy and Alan both in unison said they're not "all" doing that. Muireann got passionate as she replied: "But they are! Lads, on my road there's places where nurses used to live in like four houses. They're all Airbnbs now." Tommy challenged her saying: "But again, that's all demand Muireann." Muireann stuck to her guns and added: "It's not demand." Tommy replied: "They're not empty." DIVIDED STARS The Limerick native said: "Well no, they're not but they're servicing tourists because they're making way more money rather than the nurses who have this tiny pot to pay for rent and they're going, 'Whatever'." Tommy didn't budge on his opinion and said: "If they build more houses they'll be able to house the nurses and house the tourists." Muireann disagreed and said: "Not if they go on Airbnb. I don't think so." Alan then read out a viewer's message that spoke about how students living in Galway are paying high rents but are still told to go home on the weekends so that that the landlord can "rent to tourists". 'ABSOLUTELY SHOCKING' The Ballyfermot native said: "I can't see how anybody's getting away with this. That is absolutely shocking. "I would love to know the people the landlords who are doing that they should be named and shamed. they should be regulations. That is absolutely disgraceful." Tommy remarked: "The students are probably going home on the weekend, the house is empty?" Alan and Muireann looked unimpressed with Tommy's justification of the situation. Tommy laughed and said: "Oh the look on the two of you." The three hosts then swiftly moved on from the topic. However, the issue was brought up a second time during a segment later on in the show - and this time Tommy left his co-hosts completely speechless. 'DISGRACEFUL' After reading out another viewer's message about her daughter renting in Galway who also is told to leave her accommodation on Friday until Sunday evening, Tommy said: "It's crazy but at the same time there are people renting it. "Like there's no hotel rooms so where are the tourists meant to go?" Alan was completely taken back and said: "Tommy you're asking these people to leave their rooms!" Tommy replied: "I'm not asking. They are doing it." Alan said: "These people should be called out. That is absolutely disgraceful." Muireann told Tommy that she knows he wants to "wind her up". Tommy further annoyed his co-hosts when he pointed out that there's a "demand" for tourism accommodation. He added: "I'm not saying I agree with it. I'm just saying that there is a shortage of places for tourists to stay." Alan and Muireann shouted at him saying "so", and asked him why he cares more about "tourists more than students". The two shocked stars kept going back and forth with Tommy but couldn't come to an agreement. 4 Alan was taken back by Tommy's opinion Credit: VMTV
Irish Examiner
19-05-2025
- Business
- Irish Examiner
Average rents rose 3.4% in first three months of 2025
Market rents rose by an average of 3.4% in the first three months of 2025, according to the latest Rental Report by one of the largest three-month increases in the last two decades. In the year to March, market rents rose by 13.6% in Cork and 9.9% in Waterford. Limerick saw the largest increases, with rents up over 20% year-on-year. Rents in Galway were up 12.6%. Rents rose by 5.8% in Dublin and by 8.6% elsewhere, the smallest gap in inflation rates in two years. Outside the major cities, rents in Leinster and Connacht-Ulster were up just over 5% year-on-year, while rents in Munster were 11.5% higher. The average open-market rent nationwide in the first quarter of 2025 was €2,053 per month, up from a low of just €765 in 2011 and 48% higher than before the outbreak of covid. Outside the major cities, rents in Leinster and Connacht-Ulster were up just over 5% year-on-year, while rents in Munster were 11.5% higher. There were just over 2,300 homes available to rent nationwide on May 1, down 14% year-on-year. This is the third lowest total for May in 20 years. 'It is imperative that the new government avoid the trap fallen into by the last one in thinking that the only determinant of new homes built is the budget given to housing. The government is not just the funder, it is also the referee," said TCD associate professor of economics Ronan Lyons, the author of the report. 'The average open-market rent nationwide exceeds €2,000 a month for the first time, up from below €1,400 a month just five years ago. The sustained increases in rents in the open market are being driven by an acute and worsening shortage of rental housing. "Unfortunately, changes made to rent controls in 2021 dramatically reduced the ability of Ireland's rental sector to attract the capital needed for new supply, the ultimate remedy for the shortage. The opportunity exists for the government to reform those controls and facilitate the emergence of a new pipeline of rental homes. Nonetheless, further supports will be needed to encourage new rental supply outside of the Greater Dublin Area.'
Yahoo
14-05-2025
- Business
- Yahoo
Rent Prices Are Falling—but These 5 Coastal Cities Remain the Least Affordable
Rents across the U.S. may have been falling for nearly two years, but five large coastal metros stood out last month as having the nation's least affordable rental markets—including one of Florida's hottest tourist destinations. Miami was ranked as the least affordable of the top 50 metros, according to the April 2025 Rental Report. The median rent in April was $2,345—meaning, a typical household would have to spend roughly 38% of their monthly paycheck on housing. A rent is considered affordable if tenants spend no more than 30% of their gross household income. The U.S. Department of Housing and Urban Development defines cost-burdened households as those paying more than 30%. When it comes to the Miami market, rents are $500 higher than what they should be if they were to fall within that affordability range. 'This improvement is needed, but rents are still pretty unaffordable in Miami,' says economist Jiayi Xu. Four other major coastal hubs mirrored Miami's trajectory, showing year-over-year improvement in their rent-to-income ratios, yet remaining unaffordable for many people. A typical family living in a leased unit in New York City in April had to spend more than 37% of their income on a median rent of $2,936, while in Los Angeles the rent share of income was 35.6% and the median rent stood at $2,712. Boston had the fourth-worst rent-to-income ratio last month, with a household having to spend more than 32% of its paycheck to afford a $2,968 monthly rental property—the second-highest rent among the 50 tracked metros, trailing only San Jose, CA. San Diego rounded out the top five least-affordable rental markets, with locals having to set aside more than 31% of their income to pay $2,669 in rent for a typical unit. 'Encouragingly, the rent-to-income ratio in all five of these metros has declined compared to the same time last year, signaling a modest improvement in affordability across these most cost-burdened markets,' notes Xu. In more positive news for renters, April marked the 21st consecutive month of annual rent declines, with rents down $29 from the same time a year ago. The median rent in the 50 largest metros was $1,699, which was $5 higher than in March, but $60 lower than its August 2022 peak. Xu points out that the month-over-month uptick is seasonal, as rents tend to rise in the spring and summer, before edging down in the fall and winter. 'However, this spring's monthly increase was more modest than last year's, signaling a cooling rental market,' adds the economist. The rental market's slower pace is mostly driven by the construction of more multifamily units, which has helped ease the upward pressure on prices, says Xu. As a result, the national rental vacancy rate surged to 7.1% in the first quarter of 2025, the highest level in nearly seven years. When looking at rent prices by unit size, studios and one-bedroom properties were down 1.9% year over year nationally, settling at $1,410 and $1,578, respectively, while rents on two-bedroom units declined by 1.7%, to $1,887. Overall affordability also slightly improved last month from a year ago. Renters earning the typical household income of $7,263 spent 23.4% of their paycheck to lease a property, compared with 24.7% in April 2024. Among the 50 markets analyzed for the report, Oklahoma City, OK, emerged as April's most affordable city, with the typical family spending just 16.7% of their monthly paycheck on the median rent of $994. Other top affordable rental markets included Austin, TX, Columbus, OH, Raleigh, NC, and Minneapolis, with the rent share of income in those cities ranging from 17.2% to 18.5%. Across all the tracked markets, Kansas City, MO, was the sole outlier where the share of income spent on rent edged up in April, reaching 20.7%, a 1.1 percentage-point increase from a year ago. 'Fortunately, this is still below the recommended share, but the trend indicates a growing cost burden for Kansas City renters,' says Xu. In Milwaukee, the rent-to-income ratio also showed no annual improvement, remaining flat with last year, at 26.8%. Looking at the most improved markets in terms of affordability, San Diego topped the list in April, after the share of income needed to afford a median rent in the California metro dropped from 35% last year to 31.1.%. Denver, Jacksonville, FL, Miami, Birmingham, AL, and Phoenix—all located in either the South or the West—saw their rent-to-income ratios shrink from April 2024, meaning that people in those metros spent less of their monthly paycheck on housing needs. 'The primary driver behind this trend in both regions is the increase in new rental supply, which is helping to ease rent pressures,' says Xu. Exclusive Surf Club Community in Austin Draws A-List Buyers, Including Matthew McConaughey and Drew Brees Taylor Swift's Former Love Nest on Cape Cod Hits the Market for $14.5 Million The Best States in America: Utah, New Hampshire, Idaho, Minnesota, and Nebraska Come Out on Top
