Number of tenants in rented accommodation increasing by 10,000 a month

More than 700,000 people now live in rented accomodation.

More than 700,000 people now live in rented accomodation.

The latest figures from the Private Residential Tenancies Board show that 10,000 people a month are moving into rental properties.

According to the Irish Independent, the total is just under 700,000 - compared to 455,000 in December 2013.

A housing supply shortage and stricter mortgage rules are being blamed for the increase.

Bob Jordan, chief executive of the housing organisation Threshold, said with a shortage of housing supply, the figures are not surprising.

"If you look back to 2006, we built close to 100,000 properties … last year it was down to about 11,000," he said.

"At the same time, there's been a collapse in the social housing market - local authority housing just can't be found."

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