• 95 residential homes available to rent in the Mid-West for January, the 6th consecutive month without a rise in residential rental availability.
• 16 residential homes to rent in Limerick City & Environs in January for €1,913 per month, 28 for Co. Limerick at €1,834 per month.
• Co. Clare had 30 residential homes to rent at average price of €1,243 and Co. Tipperary had 37 at an average price of €1,091 per month.
The Limerick Chamber Rental Monitor highlights the rental availability on the open market across the Mid-West, with Co. Limerick, Co. Clare and Co. Tipperary, as well as Limerick City and Environs being monitored.
95 residential homes were available to rent in January, the lowest availability since data collection begun for the entire Mid-West in August 2022. While supply has fallen, both the average and median price have remained relatively constant overall for the region. However, supply and price have differed across the three counties and Limerick City.
Limerick City and Environs saw both the lowest supply (16 homes) and highest average price (€1,913 per month) for residential homes since data collection begun in February 2022. A similar trend was seen for Co. Limerick over its 6-month collection period, with just 28 residential homes at an average of €1,834 per month in January.
One 1-bed and 8 apartments were available to rent in Co. Limerick in January, the lowest availability for both since data collection began. The one 1-bed and 7 of the apartments were located within Limerick City and Environs.
In Co. Tipperary, residential rental supply has bounced back since its December dip with 37 residential homes available to rent, at an average price of €1,091. In Co. Clare, there were 30 residential homes available to rent for €1,243 per month. However, these supply levels are still low compared to demand.
One 1-bed home was available to rent across both Limerick City & Environs and Co. Limerick while 7 apartments were available. To encourage urban living and create a more dense population in cities such as Limerick, more smaller style homes such as 1-beds and apartments need to be delivered. Worryingly, Shannon Town continues to see low rental availability, despite is proximity to a main employment hub for the Mid-West
says chief Economist Seán Golden.
The average price to rent a residential home in both Limerick City and Co. Limerick continues to rise, while supply remained low over the winter period. It is too early to tell if this is a seasonal trend, however the low levels of supply and high rental prices are a concern nonetheless. Adequate supply of appropriate and affordable rental accommodation is needed to meet the demand that currently exists across the Mid-West right now
says Limerick Chamber Economist Diarmuid O’Shea.
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