The statistics enclosed in this latest www.daft.ie Rental Report will shock people accustomed with the market.
Once more – for the 25th successive quarter – rents have increased. Again – for the 10th sequential quarter – both a new record high for rents has been set and the year-on-year rate of inflation is over 10%.
Even though one could have predicted the main results for this report based on the last 2 or 3 Rental Reports, the outcome is more than just statistical perseverance. In the end, the cause for rents rising, nationwide, is because demand far exceeds supply.
Until 2014, the rental market away from Dublin usually had more houses on the market on November 1st than it had handled during the preceding month. Predictably, with more accessibility than the market could process, rents prices decreased during this time.
- Average Nationwide Rent: €1,334
- Rents Rise Nationally By 11.3%
- Rents have risen by more than 100% since 2012 in nine of Dublin postal districts – South County Dublin has seen the smallest increase in the city (84%)