No HAP properties available in Cork, study finds

There were no HAP properties available to rent in Cork City centre or suburbs during a three-day Simon Communities of Ireland study.

The charity’s Locked Out of the Market Report, a snapshot study undertaken every quarter, showed an increase in properties for rent in Cork City, but a decrease in the suburbs, compared to their last report in March.

The study, undertaken from June 17-19, tracked the number of properties advertised to rent within the Department of Housing, Local Government and Heritage (DHLGH) Housing Assistance Payment (HAP) limits.

Details were gathered from Daft.ie for Cork City centre and Cork City suburbs, as well as areas in Dublin, Galway, Limerick, Kildare, and Waterford.

In 10 of the 16 study areas there were no properties available to rent through HAP in any household category, with both Cork City centre and Cork City suburbs among this group.

The report added that, according to Daft.ie, “the average rent in Cork City has increased by 8% since last year and now sits at €1,870”.

It also stated that “the average rent in Cork county has increased by 4.1% since last year and now sits at €1,427”.

Some 76% of the properties available to rent at any price were in Dublin, with the Cork City suburbs down three properties and Cork City centre up by 13 since the March 2024 report.

When searching with no minimum cost, there were 35 properties available each day and 40 across the three days in Cork City centre, compared to 27 in March, a 48% increase, while the level of HAP properties was unchanged, at zero.

In Cork City suburbs, there were 28 properties to rent across the three days in June 2024 and an average of 25 per day, a decrease of 10% since March, when there were 31 properties to rent.

One HAP property was found for the area in the March report, but none in June.

COSTS

The report also looks at costs, and found that in Cork City centre, the costs for one-beds were between €1,026 and €2,100, for two-beds between €1,338 and €2,500, and for three-beds between €1,800 and €3,450,

In Cork City suburbs, costs for one-beds were between €1,110 and €1,750, for two-beds between €1,622 and €2,975, and three beds were between €1,597 and €2,950.

Nationally, rents for new tenancies are now 16% higher than for existing tenancies, with the report saying: “The Simon Communities of Ireland continue to highlight this concerning trend.

“The large gap between the cost of new and existing tenancies is one that many households cannot afford to fill. This is particularly concerning, given the large numbers of households receiving eviction notices.

“If these households are fortunate enough to find alternative housing in the private rental sector, they are likely to be faced with significantly higher monthly rents.

“For households reliant on HAP, these issues are especially pronounced.

“The prospect of finding a rental property within HAP limits remains extremely difficult, especially outside of Dublin, where supply is even more limited, and HAP limits are set much lower.”