Rents soar on back of housing shortage

Rents are continuing to skyrocket to record levels across the country despite repeated Government efforts to tackle the housing crisis.

The Daft.ie rental report for the second quarter of this year shows that double-digit rental increases are being recorded in most parts of the country, while the number of properties available to rent has reached an all-time low.

The figures show that rents nationally are now almost 13% higher than their 2008 peak. The average rent is at a record €1,159 — the fifth quarter in a row that a new record has been set.