The low availability of homes to rent nationwide is unprecedented, according to Daft.ie.
Just 1,460 homes were listed to rent on the property website on Novemeber 1st.
It's almost half the previous lowest amount recorded two years ago, and is the lowest since records began in 2006.
With only 1,460 rental homes available, costs continue to rise across the country.
Read the full report here;https://t.co/EVE40o4f7F#daftreport #irishproperty #rentinginireland pic.twitter.com/Bbyvl5eWiF— Daft.ie (@daftmedia) November 10, 2021
Author of the report Ronan Lyons says the the prognosis is quite poor but "there is light at the end of the tunnel"
"Over the next 3 to 4 years, particularly in Dublin, a lot of purpose build rental supplies will come on stream."
The economist expects 30,000 to 40,000 new rental homes to be built but warns "it won't happen overnight".
Rents Increase Nationwide
The report also found rents have increased by 6.7 per cent to their highest level since 2019.
Munster has recorded a 15.6 per cent increase since last year, with rent in Cork up 6.9% and up 10% in Waterford.
Tenants in Dublin are paying 2.7 percent more in rent while in Galway rent has climbed by 8.3 per cent.
Ronan Lyons says rent is increasing much more rapidly outside the 5 main cities.
"Rents are up on average 12 percent year on year [without the cities included] while some places rent's up 20% year on year."
The average rent nationally now stands at €1,516 euro per month.
This is a spike of 6.8% and marks the 36th consecutive quarter where rents are higher than they were in the previous twelve months.
