An Ennis auctioneer fears an even bigger home rental crisis is coming down the line.
It comes as figures released by GeoDirectory show that the number of new homes being built in Clare has seen a welcome increase – but it seems landlords are also exiting the market and selling up, which is a major concern for renters.
GeoDirectory’s latest analysis of property in Clare shows a rise in the number of new-build homes coming on the market here.
In the 12 months to the end of June, some 421 new homes were added to the residential stock in this county, marking a 20% increase on the figure for the previous year.
In addition, a further 277 residences are currently under construction here, while the average house in Clare is now selling for almost €181,000.
CEO of GeoDirectory Dara Keogh says it’s welcome news for Clare.
However, concern is now emerging about the impact this is having on renters.
Supply in the rental market is tight and more landlords are said to be selling up, as the cost of renting out their houses rises.
This, in turn, means even less properties to rent, which is pushing up the price for tenants, and Cormac O’Sullivan of DNG O’Sullivan Hurley in Ennis fears we’re facing down the barrel of a gun as a result.
