PERSISTENT SHORTAGE OF RENTAL HOMES, AS MARKET RENTS RISE 13% IN 2022
Daft.ie Rental Report which shows that:
- Market rents in the final quarter of 2022 were an average of 13.7% higher than the same period a year earlier
- The average market rent nationwide between October and December was €1,733 per month, up 2.7% compared to the third quarter of the year and 126% above the low of €765 seen in late 2011.
- While there are regional differences, all parts of the country are experiencing substantial year-on-year increases in open market rents.
- In the year to December 2022, the rate of inflation in Dublin was 13.1%, Cork City was 14.9%, Limerick City was 18.9% and Waterford City was 20.2%. Outside the cities, the average annual increase in market rents was 13.6%.
- Nationwide, there were just 1,096 homes available to rent on February 1st, down over 20% on the same date a year ago and roughly one quarter the average level of availability during 2015-2019.