Daft.ie have released the figures for the end of 2014, which shows rents continuing to rise across the entire country.
Once again, a new set of figures from property website daft.ie have shown that the price of renting is on the rise across the country as a whole. Property prices are definitely on the increase, and the stats are showing a worrying trend.
In Dublin, there isn't much more room for inflation before the prices return to the levels they were at in 2007, right before the economic crisis hit. Prices had declined steadily and hit a plateau during the period between 2007 - 2012, but since the start of 2013, the graph in the infographic below shows just how steep the increase has been.
However, as Ronan Lyons, Daft's resident economist points out, while the national average for the final quarter of 2014 was €950 and 9.7% higher than last year, the level of inflation has eased across the country, if only slightly: "this is down from a 10.8% annual increase in the second and third quarters and marks the first time since mid-2009 that rental inflation has eased".
While the figures do seem to be only heading one way, Lyons adds that the slow down in Dublin's rent levels "suggests that a limit to affordability has been reached there. Over the last 12 months, availability has stabilised in Dublin at very low levels, while it has tightened further in the Commuter Counties. The underlying lack of construction in a city growing by roughly 10,000 new families every year has created a new generation of commuter, one driven not by preference for green space but by the hard maths of affordability."
For a more in-depth look at the figures, you can read Ronan Lyons' full report here.
Via Daft.ie
