In this Q3 2022 Daft rental report pulls no punches in describing the Irish Letting market
Ronan lyons, the author of the Q3 2022 Daft rental report has clearly described the dire straits the rental market is in at this time,
“This latest Rental Report contains more grim reading for those hoping for an end to Ireland’s rental woes any time soon. Each of the previous ten quarters had brought a new all-time high for the average market rent*. This quarter continues that trend, as rents rose again. That will surely not be a surprise to many.
But what is notable is the scale of the increase. Between June and September, rents rose nationwide by an average of 4.3%. That is ‐ by some distance ‐ the single largest quarterly increase ever recorded in the rental report in a series that goes back to the start of 2006. Until this latest report, the largest quarterly increase had been 3.4%.
Worse, it comes on the back of large increases in previous quarters, including an increase of 3.3% in the second quarter of the year. As a result, rents nationwide were an average of 14.1% higher in the third quarter of 2022 than a year previously. That is the highest annual rate of inflation in market rents recorded in the Daft Report since it was launched.”