Rent increases a ‘massive concern’ for incoming students

An increase in the cost of rent in Dublin over the last few months may hit students hard, a spokeswoman for the Union of Students in Ireland said.

Incoming students will start their house-hunting this week and the USI is expecting calls on the cost of rent being higher than expected, according to its welfare officer Denise McCarthy.

A report from property website Daft.ie states that rent in Dublin city centre is now 7.5 per cent more expensive than it was 12 months ago. This is due to a decline in available properties in the area.

Students in Cork and Galway may also notice a hike in rent, with an increase of 1.8 per cent and 2.7 per cent respectively. However, Limerick and Waterford have seen a drop of 0.2 per cent and 2.7 per cent respectively.

Ms McCarthy said that these changes, especially in Dublin, will severely affect students.

“The cost of rent is a huge chunk of the average student’s finances. We’re expecting this to be a massive concern to families,” she said.

“We would advise students to contact their students’ unions, take a look around and to actually visit a property before they commit to moving into it.”

Economist Ronan Lyons said there is a high demand for accommodation in urban areas, especially in Dublin.

“As a result, with properties shifting faster, students may feel more rushed when looking for accommodation for the year ahead,” he said.

“Outside Dublin, though, rents are more or less in line with the levels charged last year. This gap between Dublin and much of the rest of the country is a trend seen consistently over the last 12 to 18 months.”