Rents edge up in June as house prices fall

Renting a home continued to cost more in June while house prices declined despite a substantial increase in activity in the property market last month, according to a report from property website Daft.ie.

Rents rose just 0.2 per cent in the 12 months to June with the average monthly listed rent now €1,402.

The price of homes to buy was 3.3 per cent lower in June than the same month a year ago, a reversal from a marginal gain in May. The average listed sale price across the State is €253,868.

Trinity College Dublin economist Ronan Lyons noted that significantly more homes were listed for rent in June this year compared with last year.

“The concern remains that policymakers see this as the underlying problem solved. While the new Government may want to favour the construction of owner-occupied homes, the fundamental shortages are in the social and market rental segments and it is those segments that must be the focus for policymakers over the coming years,” he said.

Article Source: click here.