Rents have hit an all-time high, with a chronic shortage of properties to blame.
In Dublin, prices were up 12.7 per cent from April to June when compared to the same time last year. The average listed rent now stands at €2,170.
While there were just 292 live rental ads in the capital on August 1st, the lowest on record according to the latest Daft.ie report.
Nationally rental prices surged by 12.6% in the second three months of this year. It's the highest price rise since Daft first began compiling records 16 years ago.
Ronan Lyons, Associate Professor of Economics at Trinity College Dublin and author of the Daft Report:
"The shortage of rental accommodation translates directly into higher market rents and this can only be addressed by significantly increased supply. While there are almost 115,000 proposed rental homes in the pipeline, these are concentrated in the Dublin area."
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