Rents have hit another new high.

Rents are still rising but at a slightly slower pace.

Photo via Pixabay

The latest report from Daft.ie shows private rents have risen by around 12 per cent in the past year, however the quarterly increase was just 1 per cent for the first three months of this year.

Rents in Dublin are rising at a steady pace whereas rents in other parts of the country are declining.

Economist and author of the report Ronan Lyons with Daft.ie says rental prices vary hugely.

'The cities outside of Dublin, Cork, Waterford, Limerick and Galway  cities, rents actually fell back for the first 3 months of the year compared to the previous quarter.  There are certain markets in Dublin where the average market rent is 2700, that's Dublin 4 for example or Dublin 2, that's almost 2,600 a month.'