The latest data published yesterday by the CSO has shown that the relentless upward march in rents continued in September.
Rents in Ireland increased by a further 1.9% mom in September. This is the biggest monthly gain since November 2007 and takes the annual rate of growth to 9.6% (8.8% yoy in August). Rents nationwide have now grown by 48% from the trough and are 10% above the previous peak.
According to Goodbody Stockbrokers, "The most recent Daft.ie report shows that the stock for rent remains close to alltime lows across the country, while demand is strengthening on the back of a
growing population (partly fuelled by a return to net inward migration). There is little doubt that upward pressure will remain until a meaningful supply response is seen."
Source: www.businessworld.ie
