– Just 101 residential homes available to rent across the Mid-West in December – 28 less residential homes available in December versus November across the Mid-West (101 vs 129).
– 26 residential homes available in Limerick City & Environs, 15 of which were apartments.
– Average cost of renting was €1,776 in Limerick City and Environs, €1,589 in the whole of Co. Limerick, €1,184 in Co. Clare and €1,206 in Co. Tipperary. This was the first month that Tipperary surpassed the €1,200 mark since data collection began in August.
The December Rental Monitor, produced by Limerick Chamber, highlights that total rental availability has fallen month-on-Month to December, with 113 homes available to rent. This is a fall of 32 versus November (145).
At a closer look, there were 26 residential homes available to rent in Limerick City and Environs, two more than last month, at an average price of €1,776. This is the highest average rent since data collection began (February 2022). Of these 26 residential homes, 2 were 1-bed homes and 15 were apartments available. Co. Limerick saw 50 residential homes available (+6) at an average price of €1,589, with 4 1-beds and 19 apartments available, with c. 80% of the available homes having a BER rating of C or lower.
26 residential homes were available in Co. Clare for December, a fall of 15 versus November’s availability. 2 were 1-beds and 10 were apartments. 13 homes were located in Ennis and 3 in both Kilrush and Killaloe. Shannon town had two homes available to rent in December. The average residential price in Co. Clare was €1,206.
Co. Tipperary had 25 residential homes available in December, 19 less than November, with no 1-beds and two apartments available. Four of those homes were located in Thurles, three in Clonmel and three in Nenagh. The average residential price in December for Co. Tipperary was €1,206, the first time it has surpassed the €1,200 mark since data collection began in August.
The average price for a residential home has risen for the month of December, almost €100 more than November’s average rent for the Mid-West region. Affordable housing is a central aspect to attracting talent to the region for businesses. In Limerick City & Environs, 26 homes were available in December, while a slight increase on November’s availability, supply remains low.
Says Limerick Chamber Chief Economist Seán Golden
Average rent prices remain high across the Mid-West region, with supply levels down on November’s figures as a result of less availability in Co. Clare and Co. Tipperary in December. Co. Clare saw 15 less residential homes available in December than the previous month, while Co. Tipperary say 19 less homes available. While it is too early to identify whether this is a trend or an anomaly in the data, it is a concern going into 2023 to see low levels of residential accommodation across the Mid-West.
Says Limerick Chamber Economist Diarmuid O’Shea.
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Notes
Limerick Chamber monitors all housing types across the the Mid-West on a monthly basis. ‘Residential’ homes available to rent make up the majority of homes available on the open market. ‘Executive’ homes are generally larger in size, are fully furnished and come to the market at a higher price. ‘Short-term’ rent includes any rental accommodation with a lease that has a duration of less than 12 months. ‘Total’ homes denotes the combination of these accommodation types (student housing is also included when it is available in a month.)
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