New Daft Report Shows Rents Are Increasing At Fastest Rate Since 2007

Believe us, we know all about it. The latest quarterly rent report from Daft.ie has been released this week and it shows that rents have increased significantly in the last few months. The report shows that rents nationwide have risen by an average of 3.2 per cent in the third quarter of 2015 (July to September) – the largest three-month increase since early 2007. The findings come just ahead of the introduction of new rent controls and show that tenants are now paying an extra €82 more than this time last year, with the national average at €964 – an increase of a whopping 9.3 per cent. It’s not just the capital that’s being hit with high rents the reports shows, as Cork rents are 13.5 per cent higher than 2014, while Galway rents have increased by 12.2 per cent. Limerick and Waterford have also experienced rent inflation rates of 11.4 per cent and 9.6 per cent. Meanwhile, supply on the market is at its tightest on record, with just over 4,000 properties available to rent nationwide.