New research shows rent is at an all time high in Dublin (again)

Remigio Civitarese
Novembre 14, 2017

He said rent caps had to be utilised, adding: "Rent pressure zones are not flawless but where they are working they are benefitting tenants".

The new rent figures come as the ESRI predict that house prices could rise by up to 20 per cent by 2020 if the rate of supply does not increase.

Prices are worst in Dublin where renters pay over €1700.

Ronan Lyons, Assistant Professor in Economics at Trinity College and economist, said there was no sign of rents easing.

Mr Lyons said it is a countrywide problem, and not just an urban issue.

"My own estimate is that Dublin alone needs one apartment building of 200 homes a week for the next few decades".

Speaking to RTÉ's Morning Ireland, Mr Lyons said lack of availability is the problem and there has been nearly a halving of available accommodation since the start of the year.

He said: "There were just under 3,400 properties available to rent nationwide, that's for the entire country".

In Cork, rents rose by 5.3% in the year to September, while in Galway, rents were 9.8% higher than a year previously.

This thought was echoed by homelessness charity Focus Ireland who say that loopholes in the law allow landlords to raise the rent by more than the four per cent limit.

Mr Allen also admits that controls will not solve the underlying problem but says they will help alleviate the symptoms.

"If a patient has a fever you need to deal with that fever so they don't die, over heated rent is essentially a fever, we need to get that under control".

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