Limerick Chamber Rental Monitor Jan 2024

Mid-West Rental Monitor

Jan 2024

Mid-West Overview Mid-West January 2024 saw an increase on December’s figures, increasing by 22 homes across the Mid-West. During that same time, the average rental price decreased to €1,720 – a decrease of €16 since the previous month.

There were four more homes available to rent in January 2024 compared to a year previous (January 2023, 94 homes). However, the average price of rent is drastically different, with January 2024 rent being 27% higher or what would represent an additional spend of c. €4,000 for new renters.

Limerick Limerick City and Suburbs saw a slight increase in January compared to December with an increase of two homes. During this time both the median and average prices also decreased, by 9% and 3% respectively.

However, when comparing January 2024 to January 2023, there is a substantial increase of homes with 36 available in January 2024 compared to just 16 in January 2023. Unfortunately, during the same period, average prices have increased by 15% equating to an additional spend of over €3,000 for new renters.

In the whole county of Limerick, there was an increase of 18 homes from the previous month and also a decrease of 8% in average prices and 5% in median prices. However, comparing January 2024 to January 2023, there has been a 9% increase in average prices which would be almost an additional €2,000 spend for new renters.

Clare Clare saw 24 homes to rent in January 2024, an increase of 6 homes from the previous month. Like Limerick, Clare saw a decrease in average prices, however, this change was minimal and amounted to €5. Interestingly, median prices increased, but again by a relatively low amount of €25. Compared to last year, Clare had 6 less homes to rent in January 2024 compared to January 2023 while also seeing increases of 12% on average rent prices – equating to an additional annual spend of just under €2,000 for new renters.

Tipperary Unlike Limerick and Clare, Tipperary had a decrease in the number of homes since December, reaching 19 homes in January 2024. This is the joint lowest number of homes that we had observed in Tipperary.

Interestingly, prices have also increased from the previous month with average prices increasing by €36 and median prices increasing by €80. Compared to the same month in the previous year (January 2023) supply in Tipperary is down 49% while average prices are up 20%.

Mid-West At a Glance

98

Residential homes available to rent in the Mid-West in January 2024. This is an increase of 22 homes from last month

€1,720 Average monthly rent decrease by €16

38

Apartments available. With 8 1-beds available in total

Limerick City & Suburbs

No. of Homes

Average Price

Median Price

No. of Apartments

No. of 1beds

Residential

36

€2,196

€2,025

19

3

Executive

0

-

-

-

-

Student

0

-

-

-

-

Short-Term

0

-

-

-

-

E 5% Average Price

Expt 24%

D 13% N/A A 2% 9% B 11%

C 36%

Limerick City and Suburbs Monthly BER Number of Available Rentals

Jan-24

€2,196

€2,273

27

Dec-23

€2,118

22

Nov-23

€2,023

32

Oct-23

€2,060

28

Sep-23

20

€2,096

23

Aug-23

€1,876

19

Jul-23

€2,003

20

Jun-23

€2,019

18

May-23

€2,013

16

Apr-23

€1,834

€1,979

500

Mar-23

Feb-23

€1,913

28

Jan-23

€1,738

23

Dec-22

€1,795

€1,688

21

Nov-22

Oct-22

€1,686

31

Sep-22

33

€1,632

1500

Aug-22

€1,641

€1,650

2000

Jul-22

Jun-22

€1,593

1000

May-22

€1,677

€1,553

€1,421 33

Apr-22

Mar-22

Feb-22

Limerick City & Suburbs Residential Rental Trend

2500 50

47

45

40 40

34

31 27

20

12

0 36 35 30

25

20

15

10

5

0

Co. Limerick

No. of Homes

Average Price

Median Price

No. of Apartments

No. of 1beds

Residential

55

€2,017

€2,000

24

5

Executive

0

-

-

-

-

Student

0

-

-

-

-

Short-Term

1

€900

€900

0

1

Co. Limerick Residential Rental Trend 2500

70 60 55

2000

49

49

48

46

44

41

39

1500

55

43

45

46

50

45 37

40

34 27

60

23 30

1000

20

€2,017

€2,183

€1,883

€1,799

€1,943

€1,859

€1,649

€1,792

€1,669

€1,762

€1,634

€1,695

€1,854

€1,591

€1,587

€1,461

€1,578

€1,623

500

Average Price

Number of Available Rentals

Co. Limerick Residential Monthly BER

Expt 24%

E 5%

D 13%

N/A A 2% 9%

B 11%

C 36%

Jan-24

Dec-23

Nov-23

Oct-23

Sep-23

Aug-23

Jul-23

Jun-23

May-23

Apr-23

Mar-23

Feb-23

Jan-23

Dec-22

Nov-22

Oct-22

Sep-22

0

Aug-22

0

10

Co. Clare

No. of Homes

Average Price

Median Price

No. of Apartments

No. of 1beds

Residential

24

€1,397

€1,325

5

1

Executive

0

-

-

-

-

Student

0

-

-

-

-

Short-Term

3

€847

€840

0

2

Average Price

E 8% Expt G 8% 4%

€1,582 €1,386

€1,423 €1,456 €1,543 €1,480 €1,538 €1,402 €1,397

Jun-23

Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24

€1,260

Apr-23

32

May-23

€1,259

Mar-23

€1,190

Dec-22

€1,219

€1,263

Nov-22

Feb-23

€1,193

Oct-22

€1,243

€1,229

Sep-22

41

Jan-23

€1,227

Aug-22

Co. Clare Residential Home Trend

56 50 46

41 39

30 32

20 19

Number of Available Rentals

Co. Clare Residential Monthly BER

B 13%

D 13% C 54%

38

32

26 27 24

18 18

Co. Tipperary

No. of Homes

Average Price

Median Price

No. of Apartments

No. of 1beds

Residential

19

€1,269

€1,200

9

2

Executive

0

-

-

-

-

Student

0

-

-

-

-

Short-Term

0

-

-

-

-

Co. Tipperary Residential Home Trend 1400

60

55 52

1200

48

50

44 1000

40

39

37

40

35

33

800 28 25

600

25

24

22

21

19

30

25 19

€1,146

€1,304

€1,202

€1,284

€1,168

€1,288

€1,233

€1,269

Jun-23

Jul-23

Aug-23

Sep-23

Oct-23

Nov-23

Dec-23

Jan-24

€1,060 Apr-23

€1,035

€1,141 Mar-23

Average Price

May-23

€1,142

€1,206 Dec-22

Feb-23

€1,059 Nov-22

€1,091

€1,052 Oct-22

Jan-23

€1,169 Sep-22

0

€1,120

200

Aug-22

400

Number of Available Rentals

Co. Tipperary Residential Monthly BER

N/A 11%

A 16% B 5%

Expt 26%

C 21% F 5%

D 16%

20

10

0

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