The price of renting a property in Ireland continues to rise amid an acute shortage of properties on the market, according to a new report.
The latest Daft.ie report on the housing market shows that market rents are up 11.7% on this time last year.
The average monthly rent now stands at €1,567 per month, an increase of 2.8% on the last three months of 2021.
Galway, Waterford and Limerick all had record increases of between 13% and 16%.
Nationwide, there were just 851 homes available to rent on May 1st, down from 3,600 a year ago.
Many property owners now do not even have to advertise a property to rent such is demand for housing.
County Tipperary reports an average monthly rent of €1,045, an increase of 12.5%.
