{"id":653146,"date":"2026-08-24T02:24:07","date_gmt":"2026-08-24T02:24:07","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/653146\/"},"modified":"2026-08-24T02:24:07","modified_gmt":"2026-08-24T02:24:07","slug":"rent-price-surge-in-wake-of-new-rules-was-one-off-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/653146\/","title":{"rendered":"Rent price surge in wake of new rules was \u2018one-off\u2019 \u2013 The Irish Times"},"content":{"rendered":"

The spike in rents<\/a> seen after the introduction of new controls was a \u201cone-off\u201d rather than the start of a trend, the author of a new report has said.<\/p>\n

Daft<\/a>\u2019s latest report indicates rent inflation slowed to 1.4 per cent between March and June, having surged by a record 4.4 per cent in the first quarter as the new rules came in.<\/p>\n

The Government<\/a>\u2019s new system allows landlords<\/a> to reset rents to market rates in between tenancies while restricting no-fault evictions. Critics had feared the new system would result in a wave of evictions and price hikes.<\/p>\n

The report\u2019s author, Trinity College Dublin<\/a> economist Ronan Lyons<\/a>, said the first-quarter surge in rents was a \u201cone-off jump\u201d rather than the start of a new trend.<\/p>\n

\u201cSince March, where a tenancy ends a landlord may bring the rent to the market level; that is a one-time correction rather than a recurring increase,\u201d he said. <\/p>\n

\u201cOnce those tenancies have turned over, the effect fades,\u201d said Lyons.<\/p>\n

\u201cIf that logic holds, then the adjustment is largely complete in Dublin<\/a>, where rents rose 0.8 per cent, and in the other cities, at 1.1 per cent, but is still working through elsewhere: 2.9 per cent in Leinster, 2.8 per cent in Munster,\u201d he said.<\/p>\n

[\u00a0Ires Reit sees profits triple as new rent rules \u2018unlock\u2019 capitalOpens in new window<\/a>\u00a0]<\/p>\n

Daft\u2019s report indicated the cost of renting increased by an average of 1.4 per cent between March and June with the increase taking the average open-market rent (for a two-bedroom apartment) to \u20ac2,204 per month.<\/p>\n

This was 42 per cent above the pre-Covid level and 78 per cent higher than 10 years ago.<\/p>\n

The annual rate of rent inflation was 7.7 per cent, up from 4.4 per cent a year ago.<\/p>\n

The Daft report indicated inflation remained high in cities outside Dublin. <\/p>\n

Market rents in the second quarter were 13 per cent higher year-on-year in Galway<\/a> city; 12 per cent higher in Cork<\/a>; and up 11 per cent in Limerick<\/a>. <\/p>\n

The rate in Waterford<\/a> city, at 5.5 per cent, was comparable to that seen in Dublin, where market rents in June were 6.5 per cent higher than a year before.<\/p>\n

There were just under 2,400 homes available to rent nationwide on the Daft.ie website at the start of the month, the company said.<\/p>\n

This was an increase of 5 per cent on the same date a year earlier \u201cbut masks a sharp divide,\u201d it said.<\/p>\n

[\u00a0Higher energy prices and rising rents increase cost-of-living squeeze for Irish householdsOpens in new window<\/a>\u00a0]<\/p>\n

Availability in Dublin fell by 18 per cent over the year, to fewer than 1,150 homes, while across the rest of the country it rose by 40 per cent. <\/p>\n

Nationally, availability remains well below pre-pandemic norms, when there were typically more than 4,300 homes to rent at any one time.<\/p>\n

\u201cTaking a step back, the latest report highlights an important shift in the market,\u201d Lyons said.<\/p>\n

\u201cThe additional cost of renting in Dublin, relative to the rest of the country, has fallen to its lowest level on record. <\/p>\n

This has happened even as rents in Dublin have continued to rise, with rents in the city one-quarter above their pre-Covid level,\u201d he said.<\/p>\n

\u201cRents elsewhere have risen far faster, however: by 90 per cent in Connacht-Ulster and 75 per cent in Munster in six years. Rental scarcity is a national problem, and measures to bring forward new market rental supply need to be capable of working outside Dublin,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"The spike in rents seen after the introduction of new controls was a \u201cone-off\u201d rather than the start…\n","protected":false},"author":2,"featured_media":653147,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[73],"tags":[79,1877,6217,52,18,1878,3428,8752,21681,19,17,40228,1844,28196,4097,100247,5049],"class_list":["post-653146","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-cork","tag-daft-ie","tag-dublin","tag-eire","tag-galway","tag-government","tag-housing-crisis","tag-housing-demand","tag-ie","tag-ireland","tag-landlord","tag-limerick","tag-rent-pressure-zones","tag-renting","tag-ronan-lyons","tag-waterford"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/653146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=653146"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/653146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/653147"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=653146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=653146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=653146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}