merrion street

Pictured at the Launch of the RTB Rent Index Report Quarter 4, 2016 are Housing Minister Simon Coveney with Rosalind Carroll, Director, RTB

Housing Minister Simon Coveney signed Orders today designating Maynooth, Co Kildare and Cobh, Co Cork as Rent Pressure Zones. The Orders take effect tomorrow, 30 March, 2017.

Speaking at the launch of the Residential Tenancies Board expanded Rent Index Report the Minister commented:

This report represents a major innovation, the result of close collaboration between the RTB and the ESRI, which will give us a significantly more detailed understanding of market behaviour in the rental sector. Following on from the introduction of Rent Pressure Zones at the end of last year, the methodology for producing the rent index has been revised and developed so that we can now use the RTB data to calculate and monitor changes in average rents at the level of Local Electoral Areas.

Rent pressure zones were introduced with immediate effect last December across the four Dublin Local Authority areas and in Cork City. On the 26th of January, the Minister made an Order designating a further 12 Local Electoral Areas as rent pressure zones in parts of counties Cork, Galway, Kildare, Meath and Wicklow. Further designations today continue to build on the commitment made in the Rental Strategy to provide for rent predictability.

Following the designation of Maynooth and Cobh as rent pressure zones; some 57% of tenancies nationally are now located in rent pressure zones
The expanded rent index report will be available at www.rtb.ie