Rents on the rise due to property shortage

The cost of renting property continues to rise across the country, and at a quicker rate in Dublin due to the shrinking number of properties available, according to new figures.

The Daft.ie rental report for the third quarter of this year indicates that the average rent nationwide is now €824, while as of the start of this month, there were just 1,500 properties available to rent in Dublin — the lowest level recorded.

Rents in Munster were static but rose elsewhere, by 2.7% in Leinster and 0.9% in Connaught/Ulster.