All parts of the country were experiencing substantial year-on-year increases in open market rents.In the year to December, 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%.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 to 2019.
The figures relate to open market rents, but the report also includes an index of rents paid by sitting tenants.Since the introduction of Rent Pressure Zones in 2016, rents of sitting tenants have increased by 19% on average, compared to an average increase in open-market rents of nearly 75% over the same period.Ronan Lyons is Associate Professor of Economics at Trinity College Dublin and author of the report.
"The extraordinary collapse in availability over the past two years has brought about record increases in open market rents.Ronan said housing has now established itself"as the dominant political issue in recent years." "This in turn will mean more homes in the rental sector and thus a more tenure-neutral housing policy is required.
daftmedia The rent pressure zones are really working well
But sure let’s keep bringing more in!!
Why don’t they just resign before they inflict more damage on our country?
'New rental supply is the only real solution to a shortage of rental homes'' How about dealing with the massive demand side problem? ie huge inward migration
Where has all the housing gone
Call a general election the government have done nothing to address this issue only add petrol to the 🔥 house prices and rents should be capped in Ireland and then social homes build in the 1000s nimbism should be banned for every area and high rise should be allowed
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rental prices up 13.7% amid 'chronic' supply shortageRents being sought on the open market in the final three months of 2022 were 13.7% higher than the same period in the prior year, the latest rental report from the property website Daft.ie shows. Years of bad Government policy, profiteering, ideology, greed, and short-term thinking. Unaffordable rent = rent subsidy Rent subsidy = state money 4 lanlord/rich people High rent = deprivation 4 tenant/poor The Rich get Rich by paying poverty pay and getting state subsidies by charging unaffordable rents. Our poverty is paying for their life of luxury.
Source: rtenews - 🏆 1. / 99 Read more »