Rents continue to rise across the country

The latest figures from the Private Residential Tenancies Board show that rents have increased again.

The nationwide rise in rents for the 12 months to the end of March was 6.5%, while the increase in Dublin was an average of 9.6%.

Rents for apartments in Dublin rose by 11% over the same period.

In monetary terms, house rents rose on average €110 per month while apartment rents were up €118 per month.

Outside of Dublin there was an increase of 5.3%.

However, the trend in the early months of this year shows rents rose by a higher percentage there as more people moved out of the capital.

According to PRTB director Anne Marie Caulfield, the lack of supply of suitable rental accommodation was a major factor in the continuing rent hikes.

Speaking on RTÉ’s Morning Ireland Ms Caulfield said the PRTB had also produced a report for the first quarter of this year “that shows that rents in Dublin grew by 0.6%, which is a bit of a moderation in the pace of increase in Dublin.

“Rents outside Dublin showed an increase of 1.5% and I suppose there’s a couple of notable ones there in terms of Kildare, Meath and Wicklow, all showing increases of 1.5 and 2% in the case of Meath.”

She said the increase was down to supply and demand, and it should be taken into consideration that there had been a fall of 25% in rents between 2007 and 2012.

Ms Caulfield said under the residential tenancies act rents can only be increased once every 12 months and must not be higher than the market rate.

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