Rents were more than 8 per cent higher in March this year - despite a two year cap being placed on rent rises last December.

The latest quarterly index from the Residential Tenancies Board shows the rate of rent growth is starting to slow down.

Rents were 8.6 per cent higher in the first quarter this year - compared to the start of 2015.

David Duffy, Economist with the ESRI, says the report also shows that more people are renting outside Dublin;