Rent continues to fall in Offaly

The average rent in Offaly dropped 4.3%, or by €579, between the end of 2010 and the end of 2011. The changes in the rental sector locally were revealed in the latest Daft Rental Report. The report also revealed drops of €549 and €592 for Laois and Westmeath respectively during the same period. Nationally the report shows that rents have remained notably stable over the last twelve months. The report does admit however that national figures appear to mask a rural/urban split within the rental market, with rural prices continuing to fall while rents increase in urban areas. The stock of properties available for rent has also continued to fall, with 16,023 properties available for rent in January of this year compared to 16,932 in January 2011. This represents a 5.7% decline.