Saturday 16 December 2017

Time to defuse the rental timebomb before it blows roof off property market

'What is clear is that action is needed now'
'What is clear is that action is needed now'
Colette Browne

Colette Browne

During the boom, housebuyers unable to afford Dublin's bubble prices decamped to commuter counties in search of affordable properties. Today, renters are being forced to undertake the same journey.

According to the latest quarterly rental report by Daft.ie, those on average incomes can no longer afford to rent in the capital and are moving to the commuter belt in droves.

It found that rent increases in commuter counties are now outstripping Dublin, having increased year-on-year from 7.6pc to 14.1pc. Economist Ronan Lyons has described the exodus as "a flight from the city that is driven by the hard maths of affordability rather than any preference for green space".

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