Rents in Waterford rose by 9.6 per cent in the last year and the average rent is now €661, according to a new rental report from property website daft.ie.
In the rest of Waterford, rents were on average 7.1 per cent higher in the third quarter of 2015 than a year previously.
The average advertised rent in the county is now €633, up 11 per cent from their lowest point in 2013, while city rents have jumped by 17.8 per cent since the trough.
Supply on the market is at its tightest on record, with just over 4,000 properties available to rent nationwide on November 1st.
There were 40 per cent fewer homes to rent in Munster on November 1st than a year previously (650 homes, compared to 1,100). Ronan Lyons, economist at TCD and author of the Daft Report, said the latest rental report suggests that the market reacted to talk of rental controls.
“Ultimately, while controls on rent increases may help those at risk of becoming homeless, they do nothing to help those already homeless. The much more pressing issue that needs to be addressed is the lack of supply, which ultimately depends on the cost of construction”, he added.
