Rents Continue to Rise Amid Housing Shortage
Dublin: Rental prices across Ireland are climbing once again, according to a new report from Daft. i.e., which shows the national average rent increased by 1.6% in the latest quarter.
This marks the 18th consecutive quarter of growth, with rents now averaging 6.9% higher than last year. The national average rent has reached €2,055, nearly three times higher than the €765 recorded in 2011.
Ronan Lyons, the report’s author and professor of economics at Trinity College Dublin, attributed the continued rise to the persistent lack of housing supply. He stressed that, as has been the case for the past 15 years, the long-term solution lies in building more rental homes.
On August 1, just 2,300 homes were available to rent nationwide, a figure 14% lower than last year and only half the average availability between 2015 and 2019.
Regional breakdowns highlight the scale of the problem:
- Dublin: Rents rose by 6.5%, slightly below the national average of 7.3%.
- Limerick: The sharpest increase at 14.9%.
- Cork: Up 11.8%.
- Waterford: Up 12.5%.
- Galway: Up 8.5%.
- Other areas: An average rise of 6.2%.
The report underscores growing pressure on tenants nationwide, with supply continuing to fall well short of demand.
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