Republic of Ireland workers homing in on Newry
Border towns in Northern Ireland like Newry are seeing a surge of workers from Dublin seeking affordable accommodation.
The influx of workers from the Republic has been so large that it has led to a shortage of houses and apartments in some areas.
The lack of supply of private rental accommodation in and around Dublin and corresponding 9.3% increase in rent nationally in the Republic have led to the stampede of workers seeking cheaper digs north of the border over the past year.
According to property website Propertypal.com the number of people living in the Republic seeking or inquiring about accommodation in towns like Newry and the surrounding area has increased by almost 500% over the past year alone.
The number of online searches for property in the Newry/Mourne area accounted for just 0.68% of online traffic by people in the Republic between January and November 25, 2014 but jumped to 2.83% for the same period this year, said Propertpal.com owner, Paul Anthony.
"For one region alone that's extraordinary and it's actually made me think we should change our marketing strategy," he told the Sunday Independent.
Cormac Gough, a property letting agent with Collins & Collins estate agents in Newry, estimates about 2,000 workers from the Republic are now renting accommodation in the Newry area alone, based on estimates that up to 20% of local renters are now from south of the border.
The lack of supply in the south is one reason, but so are the sky-high rents being charged little more than an hour's drive away.
"The Dublin prices are extortionate. It's just not sustainable for anyone," he said. Mr Gough now pays £1,268 a month for a modern two-bed apartment in the highly sought-after IFSC complex next to Dublin's Connolly station.
But an apartment of similar size and specifications in Newry is going for less than half that, at £600 per month, he said.
A four-bed semi-detached house located in a "nice" housing estate in Newry with an asking rent of £550, was rented out within hours of being advertised in Wednesday's Newry Reporter newspaper, said the rental agent. "It's outrageous. The minute the paper went out, it went right away," he said.
As a result of unprecedented demand, apartments and other rental accommodation in the town - especially in the much sought-after Dublin Road area near the exit to the A1/M1 motorway - are being snapped up within days of being advertised, Mr Gough said, adding there's currently a two to three month waiting list for vacancies in that area alone.