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30pc in the capital are choosing to rent

MORE people here are opting to rent as home ownership levels drop below 70pc.

Some 30pc of Dublin residents now rent homes and experts say there is untapped potential for the long-term residential market.

Dr Lorcan Sirr, lecturer in the School of Real Estate and Construction Economics at DIT, said that there is finally recognition that renting is "good for the economy".

He said that renting brings economic mobility and little risk, especially for personal savings.

Dr Sirr said that 18.5pc are now renting nationally -- a figure similar to that in the late 1950s.