The Government must overhaul rental legislation and do more to speed up the supply of new houses as residential rental costs continue to rise across the country, an industry group has said.
Average nationwide residential rents rose by 2.7%, year-on-year, in the final three months of 2020, according to the Residential Tenancies Board (RTB).
The national standardised average rent stood at €1,256 at the end of the year.
The RTB said while the cost of new leases continued to rise in the fourth quarter, the rate of inflation was well down on the 6.4% increase seen in the corresponding quarter in 2019.
However, average rents in Dublin rose by 2.1% year-on-year to €1,745 and Cork rents grew by 4.5% to €1,252.
One industry group has said rents remain inflated, meaning it is much more expensive to rent a property than it is to service a mortgage on a home.
“The answer to the rental
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