Ireland’s rental market is broken – and could be heading for even deeper trouble

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A two-tier market has emerged in Ireland's rental sector – it is expensive for those with existing tenancies, but really prohibitive for many seeking a place to rent

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Worryingly, the quarterly increase – July to September compared to the previous three months – of 4.3 per cent was, by a distance, the highest on record since the series started in 2006. The most recent RTB data is for the second quarter of this year – showing slightly lower figures at the time . It shows an 8.2 per cent annual rate of increase in the rental for registered new tenancies in the second quarter - it will be interesting in time to see if its third quarter figures reflect the acceleration in rents shown by the Daft figures.

On average, rents for sitting tenants have increased by 3.4 per cent per year over the last decade, while those for new tenants have risen by an average of 7.1 per cent. Within the sitting tenant category, Dublin has increased by 4.9 per cent per year on average and the rest of the country by a modest 1.6 per cent.

The rent pressure zones have protected existing tenants, but newer tenants are suffering as the market is squeezed between low supply and ongoing strong demand.

 

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This would have been a good article if it was written in 2016

You only know this now ..whow , what a news paper you are

Giving the Vulture funds freedom to pick the bones post Celtic Tiger led to this nightmare. When the Troika and NAMA took over it was the end of future home ownership.

Get rid of rent caps and RPZs and higher rents will come down. Totally broken market: The Haves: those with existing rental agreement and not moving. The Have Nots: those looking for new accommodation.

FakeugeeCrisis EastWall IrelandisFull

Build more units Streamline the planning process Make ideological objections harder Reduce government charges Stop hammering small landlords Incentivize developers Bring back bedsits Promote living above the shop Stop listening to NIMBY's Insist on density Build more units

And Govt pleas to ppl to offer up vacant properties for refugees and Ukrainians is going to exacerbate the situation further..

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