Rents in Dublin have risen by 8.8 per cent in the year to the end of March 2016, according to a report by Daft.ie.

Rents are currently 1 per cent higher than when they were at their peak in 2008.

The average rent in Dublin is now over €1,460.

Rents increased by 12 per cent in Cork city over the past year.

Sinn Féin TD Donnchadh Ó Laoghaire said: "Every day, we are dealing with families who are desperately trying to find rental accommodation within the current rent caps but are unable to do so. This is leading to homelessness, and massive overcrowding to the point of squalor.

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"It is also having an impact economically as more and more business leaders are expressing concern about their ability to attract investment into Cork, due to lack of accommodation for employees.

"The Minister for Housing is from this constituency, and there is a special responsibility on him to ensure that the crisis in Cork, and nationally, is dealt with effectively.

"We need rent control, and a serious investment in Social Housing; last year saw a record low in Social Housing builds."

(CD)