A Leitrim auctioneer says he doesn’t see any way for rental prices to fall in the next few years, even if recession hits.
Gordon Hughes was commenting today on the latest Daft.ie report showing rental costs having increased substantially across the region.
The highest year-on-year increase locally was in Leitrim where the costing of renting a property has gone up by almost 25%.
The lowest increase regionally was in Monaghan where costs rose by 13%.
The Leitrim auctioneer says rental costs will only be lowered by new houses being built and that will take some time.
Whatever about there may be a world recession, whatever about the possibilities of that, (and obviously that does have an effect on everything), but in terms of rental supply -that's not going to change that greatly.
So whatever about rental prices...they may stabilise... but do I see them really falling...I wouldn't really...no...because people still need to be housed, whether they're in employment or not.
I don't really see how rental prices are gonna fall until the issues surrounding supply of stock is resolved and that can only be resolved by the construction of new homes.