Rents down 27% from 2007 peak

RENTS fell by just over half a percent last year compared with a drop of 15% during 2009, a new report from property website Daft has shown.

The average rent nationwide now stands at €830 — a staggering 27% below the 2007 peak.

The levelling off in rents nationally hides different regional trends, however. In Dublin, rents in some areas are up to 2% higher than a year previously. In Cork and Galway, rents were largely unchanged, while in Waterford and Limerick cities rents fell by between 3% and 4% over the course of 2010.