Rental market starts to pick up

RESIDENTIAL rents are beginning to rise again driven by the expanding economy and inward migration after falling since early 2003.

An IIB Bank analysis of property rental data for the Irish property website daft.ie suggests that “gloomy predictions” for the rental property market may have been misplaced.

The Daft first quarter property report found that rents are rising around the country. However, IIB chief economist Austin Hughes believes that significant variations suggest that investment returns will be driven more by investment decisions than the broad economic climate.