The Rent Index is a quarterly report produced by the ESRI for the Private Residential Tenancies Board.
One of the challenges faced when measuring changes in prices is to take account of the impact that a change in the composition of goods sold in a period can have on the price level. Even if all rents remained unchanged over a time period, the average rent would change if the mix of properties rented changed.
The need to mix-adjust so that a measure of “pure” price change is constructed has led to extensive use of the hedonic regression methodology. This methodology has been used to measure house price change both internationally and in Ireland. However, it has also been applied to the rental market.
The intention is that the PRTB will publish results quarterly, approximately one month after the end of the quarter. Separate indices are calculated for the national market, the national house market, and the national apartment market. Similar indices are calculated for Dublin and Outside Dublin.
Using PRTB data an interactive dataset for average rent values by property type is available online on the PRTB website.