Average Tipperary rent is now just one euro over €1,000 - up 75% from its lowest point

The average Tipperary rent is now €1,001, up 75% from its lowest point.

Rents in Munster rose 10.2% year-on-year, reflecting very low availability - just 139 homes were available to rent on February 1, the lowest on record.

In Tipperary, rents were on average 10.1% higher in the final quarter of 2021 than a year previously. The average listed rent is now €1,001, up 75% from its lowest point.

Nationwide rents in the final quarter of 2021 were an average of 10.3% higher than the same period in 2020, according to the latest Rental Report by daft.ie.

The average monthly rent nationwide between October and December was €1,524, up 3% on the first quarter and double the low of €765 per month seen in late 2011.

The sharp increase in rents around the country reflects a worsening of the unprecedented scarcity of rental homes.

Nationwide, there were just 1,397 homes available to rent on February 1, a new all-time low in a series that extends back over fifteen years to January 2006.

Ronan Lyons, Associate Professor of Economics at Trinity College Dublin and author of the Daft Report, said: “The strong rebound in economic activity, as public health restrictions relax, has translated into a strong demand for rental accommodation.”