Rent in Ireland is now €274 more per month than it was in the Celtic Tiger

The price of renting a home in Ireland has hit an all-time high.

In June 2018 the average cost of rent nationwide was €1,304 a month. That is a rise of €274 per month on the last peak which was in 2008 during the Celtic Tiger. It's also around €560 more than it was at an all-time low in late 2011. This surge means that the cost of renting in Ireland has increased at a double-digit rate for nearly two years. But, in Dublin alone the average amount is even higher. The price of renting a place in the capital has shot up by €200 in the last year alone. This means it will cost you around €2,000 per month for accommodation in some parts of the city. That is an increase of 34 percent over the course of a decade. Rent was nearly 21 percent higher in Limerick in June than it was at the same time last year, meaning it is now around €1,109 a month. Meanwhile, in Galway and Cork rents are 41 percent and 25 percent above what they were a decade ago. In June, the average monthly rent in Galway was €1,189, and in Cork it was €1,266. The findings by Daft.ie prove that families would be better off buying their own home if they can, rather than renting. But, that is easier said than done.