Rent Increases To Highest Level Ever

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Sean Reidy
Sean Reidy

14 Feb 2017

The latest Daft Rental Price Report for the last quarter of 2016 made some worrying reading for the Government.

According to the website, rents are rising faster now than ever before.

In Dublin alone they rose by over 15 percent in the last three months of 2016, while the average cost of renting a home went up by over 13 per-cent nationally, which a number of TD's and the Simon Community have called 'extremely worrying'

Other figures from the report show the cost of renting a place in the city is now over 1600 euro.

The reason for the increase is said to be down to a serious shortage of supply, putting increasing pressure on the Government to speed up their action plan for housing.

The report also shows spiralling rents and dwindling supply are preventing people from finding and sustaining affordable homes.

It comes as the city council paid almost €40 million to hotels to accommodate the homeless people last year, that's more than double the cost in 2015.