Rents rose nationwide by an average of 10.4% in the year to December 2017, according to the latest quarterly Rental Report by Daft.ie.
The average monthly rent nationwide during the final quarter of 2017 was €1,227, the seventh quarter in a row a new all-time high has been set.
The annual rate of inflation represents a slowdown in inflation from the rate recorded in 2016 (13.5%), which was the largest annual increase on record.
In Roscommon, rents were on average 8.4% higher in the final three months of 2017 than a year previously. The average advertised rent is now €625, up 27% from its lowest point.
In Dublin, the increase in rents in the year to December 2017 was 10.9% and rents in the Capital are now 26%, or almost €380 a month (€4,500 a year), higher than their previous peak in 2008.
Most of the other major cities saw similar changes in rents during 2017. In Galway and Waterford cities, rents rose by a little over 12% during the year, while in Limerick city, rents rose by 14.8%. In Cork, the increase in rents was 7.7%, while outside the five main cities, rents rose by 9.8%.
There were 3,143 properties available to rent nationwide on February 1st. This is the lowest number ever recorded for this time of year since the series started in 2006, and the figure marks a 15% decrease on the same date a year previously.
