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Rents nationwide continue to surge, hit another record high

14 February 2018

Its quarterly Rental Report says rents rose across the country by an average of 10.4% previous year, while the mean monthly rent during the final quarter of 2017 was €1,227.

And compared to this time previous year, rents across the country have risen by 10.4%.

In the last quarter of 2017 rents saw a further 1.9% growth.

The Simon Communities have warned that Ireland's homelessness crisis will not improve while rents remain so high.

With just 3,150 properties now available to rent across the country, the ongoing dearth of supply is undoubtedly a key factor behind the upwards trend in rents.

However, he said he doesn't expect to see the market starting to normalise for another three to four years, during which rents in the capital might continue to rise by high single- or double-digit figures on an annual basis.

Rents have been rising in the capital twice as long as they fell - and indeed twice as long as the last market upswing.

The latest report by Daft.ie shows that rents in Co.

In Dublin, the increase in rents in the year to December was 10.9%. In 2010, for example, stock across the country was about 22,500, while even in 2006/2007, the number of properties available for rent touched 10,000.

"The Bill that I tabled in the Dáil on this matter could have one of two outcomes: it could vindicate the Government position and show that rent pressure zones and rent certainty is working, or it could highlight that there are some who are not complying with the RPZ legislation - which in itself would be a problem".

The infographic below, meanwhile, reveals a comparison between the monthly cost of rent and the monthly cost of a mortgage in various parts of the country; the details for each individual county are included in the report here.

"If we don't look at the fundamental problem and stop all the knee-jerk reactions, we have to get more properties out there, we have to keep our existing landlords and at the moment we're not", she said.

"This is about homeless prevention at this point in time".

Rents nationwide continue to surge, hit another record high