In the first three months of this year, 1,132 tenants in Ireland received notices of termination from their landlords.
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This brought to more than 3,800 the number of tenants who received termination notices in the year to March – more than two-and-a-half times the 1,480 termination notices received by tenants in the 12 months to the end of March 2021.
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The latest rental report from property website Daft.ie reveals that rents rose by 12.6pc in the 12 months to June. This is the highest rate of annual increase since Daft.ie first began tracking rents in 2005. Daft.ie reckons that the average monthly rent now stands at €1,618 nationwide.
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According to the property website, not alone have rents risen by 116pc from their post-crash trough in 2012, they are now running 55pc ahead of their 2007 pre-crash highs.
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The problem is most acute in Dublin, where the average monthly rent ranges from €1,987 in north Co Dublin to €2,387 in south Co Dublin. The other major cities aren’t far behind, with average monthly rents in Cork hitting €1,670, Limerick on €1,559, and Galway on €1,663.
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The largest of Ireland’s institutional landlords set, is IRES REIT, with approximately 4,000 units. Last week IRES released its first quarter year results, no surprise – they are making money ‘hand over fist’, stating that their occupancy rate is also now at 99.3pc.
