Renters across Sligo, Leitrim and Donegal are paying thousands more a year that those who are repaying a mortgage.
Latest analysis by moneysherpa.ie shows a growing gap between buyers and renters right across the country.
According to the data, Sligo has the biggest difference, with buyers saving almost four thousand euro a year on average than those renting in the county.
Leitrim is next with the average monthly mortgage payment at €808 compared with the average rental price coming in at €1,023.
This equates to a yearly saving of €2,585 for a buyer in Leitrim.
Donegal closely follows Leitrim.
The average house price is €213,782, meaning a monthly mortgage repayment €930. The average monthly rental price in Donegal is
€1,122. This means a yearly saving of €2,308.
The moneysherpa analysis indicates that renters are those being worse hit by the housing crisis. With a shortage of new rental supply driving a 8.0% increase in rents year on year combined with strict mortgage lending limits locking out renters from buying.
Link to full report:
https://moneysherpa.ie/buy-or-rent-increasing-gap-between-buyers-renters/
