Average rents have risen to new all-time high levels for the ninth consecutive quarter, according to the latest report from Daft.ie.

The national average is now €1,304, which is €274 higher than the peak recorded in 2008. 

Dublin rents, meanwhile, have passed €1,900, marking a 13.4% increase in the year to June.

Rents in the capital are now nearly €500 higher than 2008.

Limerick and Waterford saw rents rise by around 20% (20.7% and 19.3% respectively) in the 12 months to the end of June.

The average increase outside the country's five main cities is 10.4% over the last year.

Image: Daft.ie

Ronan Lyons, author of the Daft report, says there continues to be a 'mismatch' between supply and demand - and Government policy "must focus on dramatically increasing the construction of urban apartments, for both market and social housing needs".

He observed: "It's a national market now that is starved for supply - and it's not improving.

"On the sale side, we're starting to see some extra supply come on stream. On the rental side, there's still no sign yet of any improvement in availability."

He added: "It's unlikely we'll see any reductions in rents in the near future."

The situation has also raised concerns about the shortage of accommodation for students.

Shane De Rís, Trinity Students’ Union President, said: "It is tragic that yet again we’ll see students forced out of education due to the financial strain placed on them by the housing market, forced to delay their future due to Government inaction.

"The housing crisis is the biggest obstacle facing the future of higher education in this country today."