Rents at all-time high, supply all-time low – report

Homeless charities have called for immediate government action to ease the rental crisis as prices reached a new record high during the first six months of the year.

The latest rental report by property website Daft.ie shows that supply is at an all-time low.

The average monthly rent nationwide in the second quarter was up 12% to €1,159.

Daft.ie said it is the fifth quarter in a row a new all-time high has been set.

In Dublin, the increase in rents in the year to June was over 12%.

It means rents in the capital are up €260 a month since their previous peak in 2008.

Elsewhere, rents rose by 6.8% in Cork, while in Galway the average rent is €732 – 10% higher than a year previously.

At €525, Leitrim is the county with the cheapest average monthly rent.

The property website also said that there were just under 3,000 properties available to rent nationwide on 1 August – the lowest number it has ever recorded.