The average rent in Dublin now stands at €1,762.
That's a 6.6 per cent or €110 increase on the same time last year according to figures from the Residential Tenacies Board for quarter three of 2019.
However there has been a slow down in the annual growth rate, which stood at 9.6 per cent a year earlier.
The latest rise in rents was the lowest annual increase since the fourth quarter of 2017.
Nationally the average rent of a home is €1,243. That’s an 8.2 per cent increase on the same time last year.
The Housing Minister says rental prices are still too high but says there are signs of stabilisation. He says it confirms that Rent Pressure Zones are working to dampen inflation.
On foot of the report, four new Electoral Areas have been designated as Rent Pressure Zones. They are Cobh (to include Watergrasshill), Co Cork; Piltown, Co Kilkenny; Strandhill, Co Sligo, and Baltinglass in Co Wicklow.
Meanwhile Eoghan Murphy says he is to instruct Local Authorities to inspect rents being paid by tenants;
"This means that the rents being paid in more than 3000 tenancies will be verified every month and this information will be passed on to the RTB to enable them to assess whether the rents being paid are in compliance with Rent Pressure Zone restrictions, and to initiate enforcement investigations where non-compliance is identified."
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