Cost of renting a home has risen across the country in the last year

Cost of renting a home has risen across the country in the last year

The cost of renting a home in Dublin has risen by almost 10% over the past year, according to new figures from the Private Residential Tenancies Board.

Nationally, rents are 5.6% higher, but the speed of growth in the capital has shown signs of moderating in recent months.

It is the strongest annual increase since the market began to recover at the beginning of last year.

There was a 2.3% rise in Dublin when figures for the three months to the end of September are compared to the earlier quarter.

Nationally rents are almost one fifth lower than their 2007 peak.

Increasing rents forcing people out of private accommodation have become a major social issue.

While the rise continues, it will only add to concerns about an accommodation crisis.

Today’s index shows that rents for houses were 4.3% higher in the third quarter compared to the same time last year, up from €786 to €819.

Apartment rents were 7.3% higher than the third quarter of 2013; up from €805 to €864.

PRTB’s Quarterly Rent Index is compiled by the Economic and Social Research Institute (ESRI).

The PRTB says it is the most accurate rent report of its kind on the private accommodation sector in Ireland because it is based on the actual rents being paid, as distinct from the asking or advertised rent.

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