The average rent for new tenancies across Ireland has reached an all-time high, a new Daft.ie report has revealed.

Published today, 20 August, the Daft.ie Q2 2019 rent report shows the average rent for new tenancies stands at €1,391, while the number of available rental properties is the lowest since Daft.ie reports started in 2006 with just 2,700 homes available.

Other alarming statistics show every county recorded rent increases above the Rent Pressure Zone cap of 4% and 13 counties saw double digit rent inflation.

Sinn Féin representative in Dublin South-Central, Aengus Ó Snodaigh has condemned the government's policy and called for an immediate rent freeze to address the issues.

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Teachta Ó Snodaigh said: "The government's strategy for the rental sector is clearly not working and Rent Pressure Zones offer no protections for new renters. 

"People want to live in good quality, affordable homes near work and close to good public transport links. Most other cities in Europe have gotten this right to varying degrees. Instead of people in our cities, we will get expensive, 'cosy' co-living.

"We need to see a rent freeze for existing and new tenancies introduced, alongside a renters tax credit worth a month's rent.

"The government must also demonstrate its commitment to affordable cost rental accommodation by local authorities and Approved Housing Bodies.

"While the Daft.ie report today references the build-to-rent developments in the pipeline, it won't make any difference to most people's lives unless homes are affordable, which they won't be if rents continue to rise."

(CM/JG)