Cost of renting a home in Causeway Coast and Glens up 48% since 2020
The cost of renting a home in the Causeway Coast and Glens area has increased by 48% since the start of the Covid pandemic, new research has revealed.The average rent on a residential property in the borough was £548 in the first quarter (Q1) of 2020 and had increased to £811 at the end of 2025, according to property website PropertyPal. That’s an increase of £263 or 48% in five years.Over the same time period, the median full-time annual wage in the borough increased by 40%.In Northern Ireland as a whole, the average rent has increased by 51% since Q1 2020.The cost of renting a home in Causeway Coast and Glens has increased by 48% since the start of the Covid pandemic, new research from PropertyPal has revealed. Picture: unsplashHowever, whilst rents have risen massively over the last five years, there are signs that the rate of increase has been easing.The latest PropertyPal Monthly Snapshot shows the rate of increase in rents in Northern Ireland is now 5% per annum compared to over 10% in mid-2024.Jordan Buchanan, CEO of PropertyPal said: "We have seen very significant increases in the cost of renting over the past five years or so, linked to very high demand and a shortage of supply. This has put strain on household budgets, as the rate of rental growth has outstripped wage growth considerably in this timeframe.”Jordan Buchanan, CEO of PropertyPal."We are now seeing rents grow at a more sustainable pace of around 5% annually. This reflects some easing in rental demand as improved mortgage affordability has made buying relatively more attractive compared to renting, encouraging more households to enter the sales market."If mortgage rates remain broadly stable, this trend could continue, although the near-term path for interest rates remains uncertain given the wider global economic backdrop.”Continue Reading
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