Survey reveals number of rental homes at lowest point in a decade while average rent falls slightly
Bad news if you're looking for somewhere to live.
Finding a decent place to rent can be a nightmare and it seems that the amount of places on the market is dwindling according to this study by Daft.ie.
There were just 4,300 properties available to rent nationwide in early May 2015, compared to 7,200 on the same day a year previously.
That's the lowest figure since 2006 while the highest was in mid-2009, when there were almost 24,000 properties available to rent nationwide.
Regarding rental prices, year-on-year inflation in rents nationwide continued to ease slightly in the first three months of 2015.
The national average rent between January and March was just over €960. That’s 8.2% higher than at the same point last year however, it is down from the 10.4% increase in mid-2014.
Here's a look at what your money can get you in some of the various areas around Ireland.
This national trend is being driven by a slow-down in rent inflation in Dublin, which has eased from almost 17% in April 2014 to 7% in April 2015.
This has been offset by an increase in inflation in Dublin’s Commuter Counties, which has risen from 7.6% to 14% in the same period. Compared to their lowest point (2010 in Dublin and 2012 in the commuter counties), rents have now risen by a third in the capital and a quarter in the surrounding areas.
In the other city centres, rents continue to rise but at a slightly slower pace. In Cork city, rents are 7.5% higher than a year previously, similar to the increase seen in Galway 7.4%. In Limerick, rents have risen by 6.8% in a year, while in Waterford city rental inflation was 5.6%.