The rental nightmare before Christmas: Ireland's crisis and the toll it's taking

In The News podcast: Rents are climbing and supply is dwindling

When it comes to renting a home in Ireland right now it is the worst of times. Prices are going through the roof while supply has collapsed.

According to Daft.ie, average rents are climbing by 7 per cent every year while the same website listed less than 2,000 properties to rent across the whole country this week.

In recent weeks one global study suggested that Dublin was the sixth most expensive of 38 capital cities for renters, with the cost of a one-bed apartment put at €1,643 per month.

Prices are not as high elsewhere in the country but that is not to suggest there are bargains to be found.

The price spike and supply crunch means people have to live with their parents well into their 20s or move long distances from where they work.

Buying is off the table for many people. A generation ago, single-earner families could reasonably expect to be able to afford a mortgage but today a couple earning two good salaries will struggle to save for a deposit, especially if they’re renting.

Single people can all but forget about it.

The Irish Times has been highlighting the scale of the problem in recent days and as part of the coverage, In The News talks to Jennifer O'Connell who has been writing about the real impact of the rental crisis on our society.

We also talk to Irish Times reporter Jack Power who spent just one day looking for a place to rent in Dublin and had nothing but grim stories to share.

And we talk to those most affected by the crisis, those trying to find a place to rent in Ireland as 2021 becomes 2022.

In The News is presented by reporters Sorcha Pollak and Conor Pope

You can listen to the podcast here:
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