An Ennis auctioneer says bidding wars for rental properties are part of the reason behind continued increasing prices in Clare.
It comes after a prominent economist has suggested it could take up to five years to rectify supply issues in this county.
The average renter in Clare is now paying more than €1,000 a month to stay in their property according to Daft.ie – an increase of nearly 15 percent in a year.
Economist Ronan Lyons, who authored the report, has told Clare FM that he believes the situation in this county could take until at least 2026 to put right.
While supply is the primary concern, there are fears that as many as a quarter of landlords are looking to sell their properties in the next number of years.
The most common complaint to a leading housing agency from Clare renters in the last number of months has been in relation to tenancies being terminated.
John Paul McCafferty of Threshold says they’ve dealt with 57 tenants in this county in the second quarter of this year.
One Ennis auctioneer believes bidding wars on rental properties are among the reasons as to why prices continue to climb here.
Cormac O Sullivan of DNG O Sullivan Hurley Auctioneers believes that supply is the key issue – and that the problem isn’t going away quickly.
There are further fears about a potential spike in those needing to avail of homelessness services as rents continue to increase.
63 people are classified as homeless in this county, which Midwest Simon is expecting to jump coming into the winter months.
Jackie Bonfield, who’s CEO of the organisation, says outside the box solutions are needed now from the Department of Housing.
