RENTS in Dublin City have reached an all-time high with the average rental price around the capital now reported to be an eye-watering €1,690 per month.
Property website Daft.ie’s latest quartely Rental Price Report, released this week, showed that rents for a 3-bed home soared by an average of 13.4% nationally in the first three months of 2017 alone.
Dublin rents are now an average of 16.2% above their previous peak, in 2008.
Dublin now has the most expensive monthly rent in the country, followed by Wicklow (€1,168), and Kildare (€1,131).
However, at the other end of the scale, the average rent in Leitrim is €517.
The Daft.ie report also showed that there were just 1,074 properties available to rent in Dublin on May 1 – the lowest figure recorded since January, 2006.
Deputy Eoin O’Broin (SF), the party’s spokesperson for Housing, has called on the Department of Housing to conduct an urgent review of rent pressure zones
He said: “Daft’s figures for Q1 show that rents are continuing to rise to unsustainable levels.
“The introduction of rent pressure zones was supposed to restrain rents and limit annual increases.
“This lacklustre attempt at cooling the rental market is not working and now the Minister for Housing needs to investigate why.”
He added: “The Department needs to utilise existing vacant properties and amend existing legislation to provide greater security to tenants.”
In response, Minister of State for Housing Damien English said his department, alongside the local authorities, are investigating each vacant property.
He said it is “not acceptable” that there have always been 200,000-plus vacant properties over the past 20 years.
Minister English said: “We want to get these vacant properties back into use, but private people own them – they’re not our housing stock.”
He said that the Government strategy on empty home re-use will be brought before the Dail either this week or next week, adding: “A vacant site levy will come into effect next year.”

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