Identifying Rent Pressures in Your Neighbourhood: A New Model of Irish Regional Rent Indicators

Abstract

Since 2013, researchers in the Economic and Social Research Institute (ESRI) have compiled a hedonic rental index for the Residential Tenancies Board (RTB). The indicator estimates a standardised rental index on a national, Dublin and outside of Dublin basis based on the 950,000 rental properties registered with the RTB. The provision in late 2016 of detailed geographical identifiers has enabled an alternative series of indicators to be estimated. In particular, hedonic rental indicators for 137 local electoral areas (LEAs) are now available on a quarterly basis from Q3 2007 to Q4 2016. By providing a more accurate assessment of regional trends in rental supply and demand, the indicators should enable a more precise implementation of policies in the rental market. They should also serve as a proxy for measuring underlying economic activity in these regions on an ongoing basis.