Rents in Dublin Are Top Of The European League Table

Renting a house in Ireland consumes 41% of household disposable income, putting us at the top of that table according to the latest report from Savills.
That naturally makes it more difficult for renters to save to buy a home, costs the Government far more in housing assistance payments and effectively stops some young people from moving out on their own when they start work.

Renting a house in Ireland consumes 41% of household disposable income, putting us at the top of that table according to the latest report from Savills.
That naturally makes it more difficult for renters to save to buy a home, costs the Government far more in housing assistance payments and effectively stops young people from moving out on their own when they start work

The only bright spot on that horizon is that new house completions are climbing and prices are at least starting to stabilise. In addition, the labour market is getting more competitive which should see income rising.  And that correction is overdue, at least in terms of housing costs.
According to Savills’ report, in the period from Jan 2013 to March of 2018, house prices rose by 67% and rents grew by 39%.
In the same period, gross earnings rose by just 7.3%, not alone does that impact affordability, it also has a huge impact on savings.

Caden Grimes Estates is an Estate Agent Licensed with the PSRA, 001883         info@CGestates.ie