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19/08/2014
40% Fewer Properties For Rent
There are 40% fewer properties available for rent in Ireland compared to this time last year, according to the latest quarterly Rental Report by property consultants Daft.ie.
Research released shows that nationally, rents have risen by over 10% in the space of twelve months. The national average rent is now €915, compared to €825 a year previously.
Rents rose in every county apart from Donegal, while all city centres experienced rises of between 3% in Waterford and 17% in Dublin. There are now 6,800 properties available to rent across the country, down from 11,000 in August 2013.
Commenting on the report, Ronan Lyons, economist at Trinity College Dublin and author of the Daft Report, said: "For students looking for accommodation, the 2014/2015 academic year is likely to prove one of the toughest for over a decade. The imbalance between supply and demand is particularly acute in Dublin, where rents are closer to their 2007 peak than their lowest point in 2010. In a market like this, it is easy to panic so it is important that prospective tenants do their research ahead of making any decisions."
(IT/CD)
Research released shows that nationally, rents have risen by over 10% in the space of twelve months. The national average rent is now €915, compared to €825 a year previously.
Rents rose in every county apart from Donegal, while all city centres experienced rises of between 3% in Waterford and 17% in Dublin. There are now 6,800 properties available to rent across the country, down from 11,000 in August 2013.
Commenting on the report, Ronan Lyons, economist at Trinity College Dublin and author of the Daft Report, said: "For students looking for accommodation, the 2014/2015 academic year is likely to prove one of the toughest for over a decade. The imbalance between supply and demand is particularly acute in Dublin, where rents are closer to their 2007 peak than their lowest point in 2010. In a market like this, it is easy to panic so it is important that prospective tenants do their research ahead of making any decisions."
(IT/CD)
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The average cost of rent for properties advertised on Daft.ie has fallen by almost 12% last year, according to figures released today. The huge property for sale and rent website says the total number of rental properties on the market doubled during 2008, driving down rents nationwide.
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