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'It is thought a number of landlords have withdrawn their rentals from short-term listing sites like Airbnb and are putting them on the market instead'

'It is thought a number of landlords have withdrawn their rentals from short-term listing sites like Airbnb and are putting them on the market instead'

'It is thought a number of landlords have withdrawn their rentals from short-term listing sites like Airbnb and are putting them on the market instead'

There has been an increase in properties for rent due to the crash in tourist numbers, prompting hopes of a fall in rental costs.

It is thought a number of landlords have withdrawn their rentals from short-term listing sites like Airbnb and are putting them on the market instead.

The volume of rental stock in Dublin central is up 64pc alone, according to property website Daft.ie. Housing experts said the rise in supply could lead to a fall in rents.

Adverts are up 13pc nationally in March. But most of that increase is concentrated in Dublin. Many are what tend to be offered for short-term rentals - one- and two-bed properties.

As Airbnb is a large platform for short-term listings it seems highly probable many of the new rental stock seen on Daft.ie was previously posted there, Daft.ie said.

There has seen a 64pc rise in listings since the start of the month. There have been almost 400 adverts, compared with 242 in the same period last year.

Architect and assistant professor at UCD Orla Hegarty said increases in the number of properties for rent is likely to lead to a fall in costs. She said: "If there are more properties for rental, prices will be lower."

Migrants were leaving and students were returning home, freeing up properties, she said.

Economist Ronan Lyons, of Trinity College Dublin, said the increase in properties advertised for rent is likely to be related to the collapse in tourism, cutting demand.

"Most of the country has seen almost no change in properties advertised to rent, compared to a year ago. But the number of smaller properties in central Dublin, where demand for short-term lets is concentrated, has grown almost two-thirds," he said.

However, the capital's market needs 1,000 new homes a week to keep rents affordable.

"Thus, while a one-off shift from the short-term to long-term rental market may be welcome news for many, it does not change the huge underlying need to build new rental homes," he added.

Irish Independent