The cost of rental accommodation in Mitchelstown has increased dramatically in recent years and its availability is ‘extremely limited’, local auctioneers have said this week, with the town suffering full-blown exposure to the rental crisis that is being experienced nationwide.
Eamonn O’Brien, CCM Property Network, said people cannot find or afford to purchase a property and are therefore forced into the rental market, which puts more pressure on it and increases the cost of rent.
“It would be easier to find a room at the inn in the Nativity than in Mitchelstown at the moment,” said Mr O’Brien, adding that rental prices in Mitchelstown have increased as much ‘as 15 percent in the last two years’.
A three bed semi-detached house two years ago would have cost €600 a month to rent, today the same would be €750. Mr O’Brien said demand is outstripping supply and that is what has caused rent to rise.
“If 150 houses were to suddenly become available in the morning, then the cost of rent would fall …”
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