It's going to get worse before it gets better.

The price of rent is set to be tied to the rate of inflation for a period of four years, after the Departments of Finance and Environment agreed on the system in principle.

The news comes just a few weeks before the publication of the Coalition's rent strategy, but isn't a surprise as the idea had already been given the go ahead by the Attorney General, Máire Whelan.

This four-year scheme would ensure that tenants won't be hit with financially unjustifiable price-hikes, and according to the Independent, Enviroment Minister Alan Kelly is hoping to provide tax reliefs for landlords who take families off of the social housing scheme's waiting list.

Landlord groups are expected to oppose the plan, despite having raised the average price of rent in the country to €878 per month, an increase of 7%(€58) from the same time last year.