Every quarter, the Residential Tenancies Board (RTB) publishes the most accurate and authoritative rent report of its kind on the private accommodation sector in Ireland. Compiled by the Economic and Social Research Institute (ESRI), and based on the RTB’s own register of tenancies, the Rent Index reveals the actual rents being paid for rented properties.
The Residential Tenancies Act (2004) sets out a function of the RTB to include "…the collection and provision of information relating to the private rented sector, including information concerning prevailing rent levels…"
The RTB’s register contains details of more than approx. 341,000 tenancies as of Q3, 2017. Every year, the RTB registers approximately 100,000 new tenancies, with annual peaks in activity in September/October. This extensive database is the largest in the country and is populated with information on actual/agreed rent, location, six categories of dwelling types, accommodation size and number of occupants and tenancy length.
The Rent Index is backdated to Q3, 2007. Under the Act, landlords can register a tenancy up to 1 month after the tenancy commencement date. To reflect this and to provide the most accurate report possible, the data underpinning the Rent Index is extracted five weeks after the end of each quarter.
The RTB commissioned the ESRI to produce the Rent Index on our behalf. We have also been supported by the Central Statistics Office (CSO), on whose software results are shown. The Rent Index is peer-reviewed by experts in the ESRI and the Department of Housing, Planning, Community and Local Government.
Hedonic Regression, in economics, is a method of estimating demand or prices. It is based on the hypothesis that products can be treated as bundles of characteristics and that prices can be attached to each characteristic. For the Rental Index, the characteristics include dwelling size, type, and location amongst others.
Click here to view the RTB Hedonic Regression Index Report 2007-2012.
Click here to view the Rent Index Q3 2017 report.
New Rent Index Model
Since 2012, the RTB and ESRI have estimated rents on a quarterly basis across three categories: nationally, Dublin, and outside of Dublin. Recent legislation has provided an opportunity for the RTB and ESRI to include more localised geographical information, based on Local Electoral Area level, to help improve the Rent Index. This new model provides more granular information on rent prices to tenants, landlords, estate agents, central government, local authorities, State agencies, and society as a whole.
Average Rent Dataset
This dataset reports on the average rent in a number of locations around the country. Using a simple drop down menu, you can select up to five different property types and any quarter from the end of 2007 onwards to see the average rent for your selected location. The location selection is based on population and dataset size. A nil return (0.00) indicates insufficient data for that location
Click here to view the Average Rent Dataset.