Current average rent nationwide sits at €1,159


The report found that there are fewer than 3,000 properties for rent nationally.

Current average rent nationwide sits at €1,159

  • ADDED
  • 2 years ago

The report found that there are fewer than 3,000 properties for rent nationally.

As rent prices continue to soar, combined with a decrease in the number of properties offered for rent, tens of thousands of Leaving Certificate students now find themselves in hot water.

A new Rental Price Report 2017 Q2, published by Daft.ie overlooks the analysis of recent trends in 2017 and shows how there are fewer than 3,000 properties for rent nationally.

Historically, this is the lowest figure recorded.

Figures

On 1st August, 1,121 properties were available for rent in Dublin;20% less than the same date in the 2017 calendar.

The report also found that rent costs are 13% than in 2008 and 18% higher than the previous peak.

Renting property in Dublin costs €1,741 on average, while the average rent nationwide sits at €1,159.

Cork and Galway cities report increased levels which are above records nine years ago, seeing an increase of 11.2% and 21.4%.

Rents have increased 11.8% nationally on a year-on-year change, the report found.

Outside of cities, average rent costs sit at 5.8% above their previous peak periods.

Due to financial circumstances, the majority of third-level students can only afford rent durations of nine months and not the standard twelve months.

Increases

Dublin experienced a rise of 2.3% in rents over the past three months.

Leinster has now a record scarcity of properties for rent, as rents rose by 2.4%.

The report claims that Munster rents now at Celtic Tiger peaks, with a 3.5% increase in the same period.

Strong increases continue in Connacht and Ulster, with rents up 2.2%.

Action

In response, Students Unions of UCD and TCD are working in co-operation, in order to place more affordable offerings for students on the market.

A recent collaboration with students and homeowners alike, has witnessed the promotion of Irish rent-a-room scheme, ‘digs’.

The unions have received positive testimonials so far.

Find the full report here.

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