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Cost of renting in Donegal up 3.2% 11.05.15

DONEGAL rents were 3.2% higher on average in the first three months of 2015 than a year ago, the latest Daft.ie report shows.
The average advertised rent in the county is now 509, a fall of 21% from the peak.
Meanwhile, there were fewer properties available to rent nationwide on May 1 than at any point since 2006, according to the latest quarterly report.
There were just 4,300 properties available to rent nationwide in early May 2015, compared to 7,200 on the same day a year previously. The figure for May 1 is the lowest since the series was started in January 2006; the highest was in mid-2009, when there were almost 24,000 properties available to rent nationwide, said Daft.ie.
The national average rent between January and March was just over 960. That is 8.2% higher than at the same point last year however, it is down from the 10.4% increase seen in mid-2014.
The report's author, economist Ronan Lyons said the last decade has seen rapid growth in the number of rental tenants. However, there were fewer properties available.
"A renter today finds themselves with less choice on the market than at any other time since 2006. This extreme shortage of supply is at the heart of not only rising rents and house prices but also issues around working homeless, student accommodation shortages and a lack of options for those in mortgage arrears," said Mr Lyons.
"Solving the lack of housing will require initiatives to moderate the high cost of building homes in this country and completely reforming the way social housing is funded.
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