Auctioneer not surprised at 16% rise in Shannonside rent

Rent increases of over 16% in Longford late last year are not surprising according to a local auctioneer.

Johnathon Quinn from Property Partners Quinn Brothers in Longford town says the rental market is shrinking fast in the county.

While Longford has had a large amount of housing which were built for tax relief and which were bought by investors, Mr Quinn says he estimates that four out of five houses sold are being bought by owner-occupiers.

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He says landlords who buy properties are now carrying out significant improvements on the buildings and are able to charge higher rents as a result.