New figures from Daft.ie for the second quarter of 2015 also show that in some cases buying a property is actually cheaper when you compare monthly repayments.
This data compiled by the property website for the period April to June reveal the average renter in Tipperary forks out €618 per month for a four to five bedroom home- this is up 10 percent from its lowest point in 2013.
When you break it down to property types – a 2 bedroom house rose by 3.6% to €466, a 3 bed went up by 2.00% to €583 and a four bed climbed by 3.1% to €631.
The yields in Tipperary – which is the ratio of annual rents to the value of the property – remained stagnant for the most part dropping slightly for 3 4 and 5 bedroom houses and up by just .4 percent on one bedroom apartments
The report then goes on to compare the difference between renting or buying property across the Premier County.
It found that having a 30 year mortgage on a one bedroom apartment as well as a two bed and three bed homes was far cheaper than renting – almost half the cost in some circumstances, but the opposite was the case for four and five bedroom homes -where some mortgage payments were almost double.
Meanwhile, experts are issuing a warning about the number of rental properties available, as students prepare to face the new college year.
According to the report, 4 thousand 6 hundred properties were available nationwide on the first of this month, compared to 6 thousand 8 hundred on the same date last year.
It's prompted a warning from the UCD Student's Union that the shortage will see students pushed out of the rental market.
