The Shannon Electoral Area has become the second area in this county to be designated as a rent pressure zone.
The Residential Tenancies Board’s Rent Index Report for the second quarter of this year, shows Clare was one of nineteen counties where standardised average rents were above €1,000 per month.
The average price of renting in this county is now €840 for existing tenants, while new tenants are facing a bill of €1,025, marking an annual increase of 13.8%.
The Residential Tenancies Board’s Rent Index Report for the first quarter of this year, shows Clare was one of sixteen counties where standardised average rents in new tenancies were above €1,000 per month at the beginning of the year.
Average rents in Ennis fell by over 3% between April and May to €1,112, while data for the Killaloe, Ennistymon and Kilrush electoral areas was not recorded as the RTB made fewer than 30 observations in the respective areas during this period.
The biggest rise came in Shannon were the average cost of renting is now €1,180 per month.
Due to growth of more than 7% in Shannon over the last twelve months, the entire municipal district has been designated as a rent pressure zone by the Department of Housing.
This means rents in the area now, cannot be increased by more than 2% in a year or the general rate of inflation, depending on which is lower.
There are some exemptions however including properties new to market, properties that have not been let in the previous two years, and properties that have undergone a substantial change in the nature of accommodation.