Search for affordable student accomodation 'toughest for over a decade'
College students are having difficulty finding affordable accommodation, according to the latest Daft.ie Rental Report..
The latest highlights a shortage of homes for rent - with 40% fewer properties available to rent than this time last year.
Nationwide, rents have risen by an average of €90 a month year-on-year, with costs in Dublin rising 17.2% on average.
Economist with Trinity College Ronan Lyons, who compiled the DAFT report, says rents have gone up by more than 10% nationally in the last 12 months.
"For students looking for accommodation, the 2014/2015 academic year is likely to prove one of the toughest for over a decade," he said.
"The imbalance between supply and demand is particularly acute in Dublin, where rents are closer to their 2007 peak than their lowest point in 2010.
"In a market like this, it is easy to panic so it is important that prospective tenants do their research ahead of making any decisions."
Domhnall McGlacken-Byrne, Trinity College Dublin Students' Union President has stated that this is a "source of alarm" for prospective tenants and suggested that "non-EU students might well choose to pursue their studies elsewhere".
Year-on-year change in rents - major cities, Q2 2014
Dublin: €1,345, up 17.2%
Cork: €866, up 7.4%
Galway: €845, up 6.7%
Limerick: €682, up 6.3%
Waterford: €608, up 2.8%