Irish rents up in every county

Rents are now more expensive than they were at the same stage last year in every county in Ireland, according to the latest quarterly Rental Report by Daft.ie. Nationally, rents have risen by over 11 per cent in the space of 12 months, with the national average rent now reaching €933 compared to €842 a year previously.

Dublin's annual inflation rate has slowed for the first time in five years, but prices have still risen by over 14% in the capital since the last three months of 2013.

"Rents are now almost 30% above their lowest point in 2012 and less than 10% below their 2007 peaks," reads the report. "This is very damaging for Dublin's competitiveness as a location for foreign direct investment. The goal of housing policy should be to ensure that, regardless of whether it's to rent or to buy, rural or urban, housing is abundant and affordable."

In the other city centres, rents continue to climb. Waterford experienced an annual rise of 5 per cent, Limerick 6 per cent, Galway 7 per cent and Cork 8 per cent. Most of Dublin's neighbouring counties also continue to see double digit inflation with Meath witnessing growth of 11 per cent, Wicklow 13 per cent and Kildare 14 per cent.

The number of properties available to rent continues to fall, with fewer than 5,400 properties to rent nationwide as of 1st November, the lowest figure since 2007.