Cost of rent climbs back to pre-pandemic levels as number of homes to let hits record low – Independent.ie

Rental costs have increased at a rate not seen since the pandemic struck – while available properties to let are at an all-time low.

he cost of renting was up
by 6.7pc in September, the strongest annual rise since early 2019, according to the Daft.ie rental report. Rents in Connacht-Ulster have shot up nearly 19pc.

Average monthly rent nationwide between July and September was €1,516, a rise of almost €100 a month since last year.

The cost of renting is now twice what it was a decade ago as a severe shortage of properties to let pushes up costs.

Just 1,460 properties were available to rent across the country at the start of this month. This is the lowest level of rental stock since 2006, when the Daft.ie report was first compiled.

Rents in Munster are 15.6pc higher than a year ago.

The near-19pc rise in Connacht-Ulster is the strongest rate of inflation since the

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