Third of income to go on Dublin rent

Dublin renters could be shelling out as much as a third of their household expenditure on rent next year as a chronic shortage of accommodation in the capital continues to drive rents higher.

A recovery in the labour market coupled with a low volume of renters moving into the first-time buyers bracket over the past few years and an acute lack of rental accommodation has seen prices rise by 14.5% in Dublin this year, according to some estimates.

Analysis by Davy Stockbrokers suggests that a lack of new supply will result in prices continuing to rise in the short-term, adding to “an ever-increasing burden to household budgets”.