There has been a significant rise in the number of people renting in Ireland.

According to a report from Savills Ireland there has been a 39,500 increase in the last year.

Dr John McCartney, Director of Research at Savills Ireland and author of the report said: "The continued expansion of Ireland's private rented sector should not come as a surprise. Property prices continue to advance faster than average earnings, creating an affordability challenge to home-ownership which is driving people into the rented sector.

-- Advertisement --

"A reasonable interpretation is that renters have begun to form larger households because of the absolute scarcity of available properties."

(CD)