New figures show rents on the increase

Private sector rents went up by 5.8% last year, according to figures released today.

PRTB's Quarterly Rent Index again showed that the growth in Dublin exceeded the rest of the country.

Rents in the city increased by an average of 9.6%, or around €104 .

The average rent of a Dublin house is now up to €1,301, a rise of €85. Dublin apartment rents are up from €1,051 to €1,166 on average, a rise of €115 (10.9%).

The rate of increase was not as high outside Dublin, which saw rent rises of 3.9% on average.

Rent for houses outside Dublin were up from €639 to €667, a rise of €28, or 4.4%, while apartments outside Dublin experienced an increase of 2.9%; up from €595 to €612, a rise of €17.

The data, compiled by the ESRI, was conducted during the last three months of 2014, .

Economist with the ESRI, David Duffy, said that rents for apartments went up by more than those for houses.

"[There is] some regional variation, and indeed some variation by type of property," he said.

"Rent for houses up 4.8%, while rents for apartments up 6.4% in Q4, 2014."

Sinn Féin Housing spokesperson Dessie Ellis TD has called on the Government to prioritise the introduction of fair rent controls to tackle the rising rents

"Rents are out of control, especially in Dublin and are putting people at risk of homelessness,” he said.

"Minister Alan Kelly recently admitted that rents were out of control but has so far done nothing to help. He has talked about rent certainty but given no details and has also floated the unacceptable idea of tax breaks for landlords who charge fairer rent levels.

"People have already lost their homes because of rent increases. We need to stop this from happening in the future."

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