Donegal rents continue to tumble

Rents in Donegal have fallen once again according to the latest Rental Report.

The average rent nationwide in the final quarter of 2012 was €808, compared to €790 in late 2011 - that is a rise 2.2% during 2012, representing the first annual rise in rents since 2007.

The increase in rents is being driven by Ireland’s largest cities while the number of properties available to rent nationwide is also at its lowest since mid-2008.

Rents in the three Ulster counties (in the Republic)  fell by 2.8% in 2012, compared to a fall of 2.3% a year previously. In  Donegal, rents were 2.7% lower on average in the final quarter of 2012 than a year previously.

The average advertised rent is now €503, a fall of 22% from the peak in 2007.