herald

Sunday 23 July 2017

Rents in the capital surged 14pc last year to an average of €1,643

Mother-of-three Amanda Scanlon fears she may be evicted
Mother-of-three Amanda Scanlon fears she may be evicted

Rents in Dublin increased by 14pc last year, with the average monthly cost now standing at €1,643.

The latest Daft.ie report shows rents in the capital are now €200 higher than they were when the last peak was recorded in 2008.

Overall, rents had their highest rise on record last year, just as measures have been put in place to limit increases.

The average cost of rented accommodation shot up by an average of 13.5pc in the year to the end of December.

Pressure

Rents nationwide are at a new average high of €1,111.

The increase last year was the biggest 12-month jump ever recorded. Daft first started tracking rental costs in 2002.

The Government extended rent caps last month in a bid to restrict rises in areas designated as Rent Pressure Zones (RPZs).

Landlords can only increase rents by 4pc a year for three years in these areas.

However, they are free to hike rents in the case of new tenancies as the new measures were set to help sitting tenants.

Daft.ie economist and Trinity College lecturer Prof Ronan Lyons said the index showed that a new high for rents was recorded for the third quarter in a row in the last three months of last year.

In Cork, rents rose by 12pc last year, down from 18pc. The average cost is €1,096.

Rents in Galway are 10pc higher on average than a year before, at €975.

Prof Lyons said the latest figures are a huge concern.

The increase in rents in the final three months of the year in Dublin was 4pc, the second fastest three-month increase on record, he said, adding that addressing construction costs remains the best way of dealing with supply shortages.

Dublin mum Amanda Scanlon (44) fears she may be evicted as her rent rose by €300 before the rent caps were introduced.

She lives in Rathgar with her three children, Robert (6), Dean (7) and 15-year-old Lee. Rent for her two-bedroom apartment went up from €1,100 to €1,400.

Guarantees

"I don't know what's going to happen," she said. "I'm on rent allowance at the minute with my three sons.

"I'm not sure if the rent allowance will cover it. I don't know what's going to happen this time because there's no guarantees".

Amanda's partner - the dad of her boys - died five years ago last week, which is when she moved from her previous accommodation in Crumlin.

"My younger sons have been in play therapy and counselling since their father died," she said.

"I have my little son in with me and my older son is quiet and he needs his own space. I don't get a minute's sleep, but you just have to make it work."

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