Rents rise on last year as number of properties falls

THE economy may have improved little over the last 12 months, but on average, rents are still higher than they were a year ago.

The average rent across the country in the third quarter was €825 per month, 25% less than the peak in 2007, but still 0.1% higher than the second quarter of this year.

Despite prices going up, the amount of property available to rent is falling, according to the Daft.ie report. The number available on November 1 was 16,000, down from 20,000 in July and a peak of 24,000 in July 2009.