Search for affordable student accomodation 'toughest for over a decade'

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%