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Average cost of rent increasing nationwide

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The average cost of renting has surged past €1,000 a month nationally.

New figures show rental inflation hit 7% in the first three months of 2018 compared with the previous quarter.

The data from the State’s Residential Tenancy Board show that the cost of renting jumped by €70 a month in March compared with a year earlier.

This meant the average cost nationwide is now €1,060. It now costs €1,500 a month for accommodation in Dublin, up more than €100 from a year ago.

If you are renting outside of Dublin and its surrounding areas, the cost of renting is €791. The capital city and surrounding commuter counties are pushing up the cost of renting nationally, according to the Residential Tenancy Board rental index.

In Dublin, Kildare, Wicklow, Meath, Cork and Galway, the cost of renting a property has surpassed €1,000 per month.