New Rent Pressure Zones Co.Meath
There are 19 new locations designated as Rent Pressure Zones following a change in the criteria.
The announcement of the additional RPZs takes effect from today, following reforms to the Residential Tenancies Act.
The areas are located across 11 counties and include all of Meath and Louth, as well as Limerick’s metropolitan area.
It means rent increases are limited to a maximum of 4% each year, with around two-thirds of renters now covered by RPZs.
The data shows that between the start of January and the end of March, the average rent stood at €1,169 per month.
The move comes as new figures from the Residential Tenancies Board show that nationally rents were over 8% higher during the first three months of the year, compared with the same time in 2018.
The figure represents an increase of €90 or 8.3% on the same period a year earlier.
When compared with the previous quarter, rents rose by 2.1%, reversing the fall recorded between the start of October and the end of December.
It was also the highest rate of annual price inflation in the rental market since the second quarter of 2016.