MACROOM has now been designated a Rent Pressure Zone by the Residential Tenancies Board (RTB).
Average rents have now reached €1202 per month and, according to the RTB Rent index, both the Macroom and Carlow local electoral areas have now met the criteria to become Rent Pressure Zones.
Macroom joins Ballincollig, Carrigaline, Cobh, Cork city, Midleton and Fermoy as Rent Pressure Zones in Cork.
Roasalind Carroll of RTB said: “We know Rent Pressure Zones are having an impact at an individual level. The RTB is supporting compliance through public awareness campaigns, online resources and information.
“However, there is no one quick fix for the rental sector and regulation is only part of the answer. The market is complex, our research illustrates this and we will be working with the ESRI to gain further insights into the factors driving rent inflation. It is important that policy is informed by the most accurate information in order to avoid any unintended consequences.
“It is really important that landlords and tenants go to www.rtb.ie where they can check if their rental home is in a Rent Pressure Zone and what rent can be charged.”