The supply of new homes to rent in Dublin is set to fall by 27% this year and a further 57% next year, according to a new study by Savills Ireland.

The study reveals that there are currently only 5.7 homes available to rent for every 10,000 people in Ireland.

Meanwhile, there are just 24.2 homes per 10,000 people available for sale.

The shortage is most acute in Monaghan where there are just 2.4 homes available to rent per 10,000 people and 12.2 homes to buy.

Homes available to buy by county in Ireland. Image: Savills/Daft

The Dublin Commuter towns of Meath and Kildare come in second and third when it comes to the shortage of homes to buy, with Dublin itself coming in eighth.

Leitrim has the most availability when buying a house, followed by Roscommon and then Mayo.

Homes available to rent by county in Ireland. Image: Savills/Daft

The analysis also highlights the ‘stark’ shortage of rental properties across the country.

Monaghan is the hardest county to find a home for renters with 2.4 properties available per 10,000 people.

Roscommon and Donegal come in second and third with 2.5 and 3.3 respectively.

Dublin has the highest number of rental properties available – with 15.3 homes on the rental market per 10,000 people.

'Stark'

Savills Ireland research director John Ring described the findings as shocking.

“The starkest finding of this analysis is the shortage of rental stock across the country and it is not clear how this issue is going to be resolved,” he said.

“Apartment development, the traditional channel by which rental stock has been delivered historically, is unviable in most locations outside of Dublin, with no new apartment delivery of scale taking place since the crash.

“Furthermore, lending for buy-to-let investment is miniscule, while many existing landlords are exiting the market. Lastly, the model of developing housing estates for rental has been effectively banned via prohibitive stamp duty on these transactions.

“The question therefore arises, what is the plan for delivering private rented stock across the country?”

As of August 19th, data from Daft.ie shows Dublin has 2,290 properties available to rent or share - more than the total available in the rest of the country combined.

Main image: An aerial view of Dublin city in July 2011. Picture by: scenicireland.com / Christopher Hill Photographic / Alamy Stock Photo