Rental costs increase for first time in two years
Published 16/02/2010 | 05:00
AFTER a two-year break, rent costs are on the way up.
New figures from property website Daft.ie show that rents across the country rose by just over 1pc in January.
Although marginal, the increase is the first time rents have gone up since they started to fall two years ago.
The national average rent now stands at €765 -- almost 25pc below peak levels in early 2008.
Daft.ie economist Ronan Lyons said: "It is too soon to say definitively whether rents have levelled off, but the January increase does seem to be broadly consistent around the country.
"The levelling off is most likely a result of a steady fall in the number of properties available."
The report is based on an analysis of all rental properties advertised on Daft.ie, and includes over 130,000 advertised since January 2009.