Tenant borrower cost gap widens while motor insurance costs rise

The gap between the rising costs of private rents and the reduced costs of mortgage interest rates widened last month, while motor insurance costs also rose, the latest consumer price survey showed.

The cost of renting and the costs of meeting interest payments on home loans have diverged for over a year as the spotlight fell on the big costs of standard variable interest rates in Ireland compared with the rest of the eurozone.

Housing shortages have driven up rents.