Saturday 1 October 2016

Rents hit record high as students start search

Published 23/08/2016 | 02:30

Rents have risen again and are now at their highest level on record. (Stock photo)
Rents have risen again and are now at their highest level on record. (Stock photo)

Rents have risen again and are now at their highest level on record.

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And the number of properties available to rent is at an all-time low for the time of year, indicating that the rental crisis is intensifying.

The latest surge in the cost of rents comes as thousands of students are in a scramble to find college accommodation.

There was a rise of almost 4pc in rents in the second three months of this year, according to Daft.ie's rental report.

It was the largest three-month increase in rents since early 2007. It means that the average cost of renting a property across the country is now €1,037, the highest level since Daft.ie began taking tracking rent levels.

And the squeeze in the number of places to rent continues to hit people seeking somewhere to live.

There were just 3,600 properties available to rent nationwide at the start of this month. This is more than was available in May.

However, Daft.ie economist Ronan Lyons said there was usually a rise in listings in August, ahead of the academic year.

Irish Independent

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