Tipp rents increase by 12.3%

Photo © Pixabay

Rents have hit an all-time high, with a chronic shortage of rental properties to blame.

The latest Daft.ie report shows rental prices surged by 12.6% in the second three months of this year when compared to the same period last year.

It’s the highest price rise since Daft first began compiling records 16 years ago.

The increase in Tipp was slightly lower at 12.3% while the average rent in the Premier County is now €1,089.

The national average rent is now €1,618 a month while in Dublin it’s €2,170.

Supply of rental properties is also at its lowest since 2006, with only 716 homes available to rent in the entire country on the 1st of August, while there were only 292 live rental ads for homes in Dublin, a new record low.