Majority of estate agents expect more landlords to leave the market

New tenancy rules due to come into effect on March 1 cited as main reason

President of the SCSI Gerard O'Toole said constrained supply continues to drive house price growth and mounting affordability pressures for home buyers and renters.

The majority of estate agents across the country expect more landlords to leave the market over the coming year, as new tenancy rules come into effect and rent pressure zone restrictions are extended countrywide, a new report has said.

New tenancy rules due to come into effect on March 1 will cap rent increase at the rate of inflation or 2%, whichever is lower, countrywide, but this will not apply to newly built apartments or student specific accommodation. Landlords will be able to reset the rent at market value if the tenant leaves the tenancy voluntarily or the tenant breaks their obligations.