It has been revealed in a recent rent report that rents are almost €400 above the Celtic Tiger average in Dublin, and nationwide.
In the last quarter of 2017, Daft.ie report that asking prices for rent nationwide rose by 2.4% to a national average of €1,227 per month. This means that, on average, there is a 10.4% rise on rents across the country on an annual basis.
In Dublin, rents are now 26% higher than they were within the Celtic Tiger era. Daft.ie report that rents in all four county areas of the capital are now up to €4,500 more than the previous peak in 2008.
Daft.ie list North Dublin city, central Dublin city, south Dublin city and south Dublin county as the most expensive places to rent in Ireland. Rents in these areas range from €1709 in the North of the city, to €1995 in South Dublin.
Social Democrats representative for Castleknock and Blanchardstown, Aengus O Maolain, has called on the government to introduce rent caps as rents have ‘yet again’ reached an all-time high.
Ó Maoláin said: “It is very clear that rents across Dublin are astronomical and unaffordable rents and there is simply no supply of housing to fill the gap. The Minister for Housing needs to acknowledge that the rental market is entirely broken and that an emergency response is now needed.
“The drop in housing on the market is particularly worrying, with only 1,350 properties available to rent, a 15% reduction in last year. The housing crisis is only getting worse, and government’s inaction is adding fuel to the fire,” Ó Maoláin said.