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Private rents fall for the first time since 2012

Written by Robert McHugh, on 21st Feb 2020. Posted in Ireland

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New figures from the Central Statistics Office (CSO) show that private rents fell (albeit modestly) for the first time since June 2012 in January 2020.

This has resulted in the annual rate of growth declining to 3.9% year on year (yoy), the slowest rate since 2013. This obviously puts the rate of rental growth below the 4% growth cap in designated Rental Pressure Zones in Ireland.

According to Goodbody Stockbrokers, "There have been some moves towards a policy of a rental freeze by some political parties, which we believe would have a detrimental impact on supply. In any case, it appears that the market is adjusting due to a combination of stretched affordability in the private rental sector and increased supply."

Source: www.businessworld.ie

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