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Principale » Dublin rent prices up 12 per cent as rates soar to a new all-time high

Dublin rent prices up 12 per cent as rates soar to a new all-time high

14 Novembre 2017

As if it wasn't sickening enough, rent has risen again in Dublin.

The deepening housing crisis could be heading for a ideal storm, with one new report showing record high rents and plummeting stock, and another report projecting a 20% rise in house prices in the next three years, writes Noel Baker.

Cork experienced a jump of over 5%, Galway, 9.8% and Limerick rose by 10.9%.

Ronan Lyons, the author of the research says that the Government's efforts are just simply not enough.

He said the country needs close to 50,000 homes a year, including more than 15,000 new rental homes annually, and said capping rental increases would only tackle the symptoms, not the cause.

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He said rent caps had to be utilised, adding: "Rent pressure zones are not ideal but where they are working they are benefitting tenants".

According to the report which analysed trends during July, August and September the average monthly rent in Limerick city is now €946 while a property in County Limerick will set you back €748.

Speaking to RTÉ's Morning Ireland, Mr Lyons said lack of availability is the problem and there has been nearly a halving of available accommodation since the start of the year.

He said: "The minister has to change that legislation, he has to get rid of that loophole and he has to make sure that families and other people in rented accommodation can rely on the tenancy treatment they have and not see it torn up at a moments notice".

Dublin rent prices up 12 per cent as rates soar to a new all-time high