Morgan Allen, the Dublin 3 area's newest estate and letting agency, has seen a gradual increase in Dublin rental prices lately.

After a quiet Christmas period, rental enquiries in the Dublin 3 area are on the increase according to Barry Toal of Morgan Allen: "We have seen a steady increase in both the number of rentals and the prices we are achieving particularly in the Dublin 3 and 5 areas. Prices for a good quality one and two bedroom properties in Clontarf and the surrounding areas are up approximately 5% from this time last year. We attribute this to a combination of an under supply of high quality apartments and an increased number of tenants."

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The news for homeowners gets better according to Mr Toal who has seen a marked increase in the number of enquires for properties for sale since opening their new office on the Malahide Road.

"We have been inundated with enquiries from potential purchasers, especially first time buyers in the 150k to 250k bracket since opening our new office in January 2011," he said.

Morgan Allen, formerly Smart Letting Company, have opened a brand new office at 8 Malahide Road, Fairview, Dublin 3.

Barry concluded that the change of name and premises is strategic move into the sales market on account of the increased number of enquiries received in recent months from first time buyers as well as those looking to trade down.

(GK)