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Lack of houses driving up rents

A lack of housing supply is being blamed for rising rents. Last year prices rose by 9% and the avera...
TodayFM
TodayFM

6:25 AM - 9 Feb 2016



Lack of houses driving up rent...

News

Lack of houses driving up rents

TodayFM
TodayFM

6:25 AM - 9 Feb 2016



A lack of housing supply is being blamed for rising rents.

Last year prices rose by 9% and the average rent was €979 at the end of 2015.

The latest report from Daft.ie shows rents are rising fastest in cities outside Dublin - with a 15.4% jump in Cork.

Galway rents were up over 13%, and in Limerick they rose 12.4%.

The survey found the number of available rental properties is less than a quarter of what it was five years ago.

Trinity College Economist Ronan Lyons compiled the Daft.ie report and says the lack of supply is driving rent increases:

The Simon Community says people on low incomes are being shut out of the rental market.

National spokesperson, Niamh Randall, says the latest figures are proof of a national crisis:



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