Rents fell by 2.1% on average last month compared to March, reflecting the economic fallout from the Covid-19 pandemic. This represents the biggest monthly fall in rents since March 2009.
The average monthly rent nationwide stood at €1,418 in the first quarter of 2020, the figures show. The latest Rental Report by Daft.ie also shows the number of homes available to rent nationwide on 1 May was almost 40% higher than on the same date a year ago.
The author of the report, Assistant Professor of Economics at Trinity College Ronan Lyons, said a fall in demand for accommodation has impacted rent prices nationally, which the latest Daft.ie report shows.