The latest rental report from the property website Daft.ie shows that while rents are increasing significantly in the capital they are rising much slower elsewhere, indicating a lack of supply according to economist Ronan Lyons.
Rental rates in Dublin, Cork and Galway saw a second consecutive year of growth as a result of a shortage of accommodation in Ireland’s largest cities, the report reveals.
Latest figures show that Distilled, which publishes sites including TheJournal.ie and Daft.ie, gets more monthly page impressions than RTE.ie, IrishTimes.com and Independent Digital.
Quarterly report from Daft.ie also shows that average rental asking price on largest property website fell slightly over course of 2011 – but is increasing in Cork.
RENTS HAVE REMAINED largely unchanged for the second half of this year, according to the latest property report from Daft.ie.
Prices remain considerably lower for the same period of last year, despite falling by less than 1% between April and June this year.
The average asking rent for a property stands at €835, 5% lower than last year.
Rent for students still varies across Ireland. Letterkenny was on average the cheapest place for a student to rent, at €219 per month, but living in Dublin city centre costs more than twice that, with students paying an average €501 each month.
Commenting on the report, the president of the Union of Students in Ireland, Gary Redmond, said students will be pleased with current prices:
A year ago, students could expect to pay rent in the range of €370-400 per month, while students in Dublin faced considerably higher rents. But recent figures from Daft now show that in the last year the biggest falls in rents have been in Dublin. Generally, around the country, rents are between 20% and 30% below what they were two years ago.
