Rents Still Rising At Record R...


Rents Still Rising At Record Rates

Emma Tyrrell
Emma Tyrrell

10:08 22 Nov 2022

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Rents are continuing to rise at a record rate.

They've increased by 14.3 per cent in Dublin between July and September compared to last year according to the latest report.

The average listed rent in the capital is now €2,258, up 120 per cent from its lowest point in 2011.

While the availability of rental homes in Dublin has collapsed over the last 18 months, with just 345 live rental ads on November 1st, by far the lowest on record for this time of year.

Nationally, market rents in the third quarter of 2022 were an average of 14.1 per cent higher than the same period a year earlier.

The average market rent nationwide between July and September was €1,688 per month, up 4.3% on the second quarter of the year.

Ronan Lyons is an Associate Professor of Economics at Trinity College Dublin and author of the Daft Report;

"Over the past 20 years, the best predictor of future changes in rents is the number of homes available at any particular point in time. As that has collapsed over the past 18 months, it was apparent that there would be significant upward pressure on rents all across the country. This has been confirmed in these latest figures, which show record quarterly and annual increases in market rents, despite rents already being at very high levels."

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