Rent price surge in wake of new rules was ‘one-off’
A new report from Daft suggests that the recent surge in Irish rent prices was a one-off correction rather than a long-term trend. While inflation remains high in cities outside Dublin, the author argues that the market is stabilizing.
Why it matters
Understanding whether rent spikes are structural or temporary is critical for housing policy and economic planning in Ireland.
The spike in rents seen after the introduction of new controls was a “one-off” rather than the start of a trend, the author of a new report has said.
Daft ’s 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.
The Government ’s new system allows landlords 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.
The report’s author, Trinity College Dublin economist Ronan Lyons , said the first-quarter surge in rents was a “one-off jump” rather than the start of a new trend.
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