Rents jumped by almost six per cent last year.

Tenants were paying €1,596 on average across the nation, according to the Daft.ie report for Quarter Four of 2024.

The report also shows that the number of available rental homes across the country is under 2,300.

Outside of Dublin, there fewer than 1,100 homes available to rent ‐ down almost 60% on the late 2010s average.

Builders at work.Photo: Eamonn Farrell/RollingNews.ie

Author of the report economist Ronan Lyons has said we are now a decade into the rental crisis - and there's very little to suggest it will end any time soon.

"Still very, very tight supply conditions, very few homes available to rent at any particular point in time - and fundamentally that's the challenge," he said.

"While there's a lot of talk about changes to rent pressure zones and rent controls more generally, ultimately this is about how do we get the extra new rental supply that will be the ultimate solution to what is now over 10 years of supply shortages in the rental sector."

Limerick City recorded the highest increase year-on-year, at 19% - followed by Leitrim at 13%.

Main image: Property Taxes And Real Estate Market Growth. Image: Andriy Popov / Alamy. 5 March 2020