Rents fell by 2.1% on average last month compared to March, reflecting the economic fallout from the Covid-19 pandemic.
This represents the biggest monthly fall in rents since March 2009.
The average monthly rent nationwide stood at €1,418 in the first quarter of 2020, the figures show.
The latest Rental Report by Daft.ie also shows the number of homes available to rent nationwide on 1 May was almost 40% higher than on the same date a year ago.
The author of the report, Assistant Professor of Economics at Trinity College Ronan Lyons, said a fall in demand for accommodation has impacted rent prices nationally, which the latest Daft.ie report shows.
Speaking on RTÉ’s Morning Ireland, he said the figures show the biggest one month fall in rents in over 11 years, since early 2009.
He said that with the broader economy in crisis and many people becoming unemployed this “has fed through to the property market”.
He said that the
Continue reading this atricle at https://www.rte.ie/news/ireland/2020/0512/1137857-rents-housing/