Wednesday 7 December 2016

Soaring rents 'have reached upper limits'

Published 01/12/2016 | 02:30

The cost of renting a home has again shot up - but there are tentative signs that the rate of increase is easing off.

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However, experts said rent rises were slowing because landlords now realised that tenants couldn't afford to pay more for their accommodation.

New figures show the cost of renting across the State was up by almost 9pc in the three months to September.

It now costs close to €1,000 a month nationwide to rent a typical property.

John McCartney at estate agency Savills said rents had gone up by 40pc in Dublin since they fell during the downturn.

He added people were now unable to bear higher rents.

Irish Independent

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