The Quarter 3 Daft.ie rent report shows new rents surging by 14%, the biggest increase since Daft.ie started publishing such reports in 2006.
In the last 12 months, new rents have increased by an average of 14% to €1,688 a month or €20,256 a year. In Dublin, average new rent is now €2,258 a month or €27,0996 a year.
Sinn Féin representative Eoin Ó Broin TD has urged the Housing Minister to take emergency action.
Teachta Ó Broin said: "The Minister for Housing, Darragh O'Brien, must take emergency action to tackle runaway rents. This means a three-year ban on rent increases. It means a properly designed refundable tax credit to put a month's rent back into every private renter's pocket.
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"It also means increasing and accelerating the delivery of genuinely affordable cost rental homes.
"Not only are the government's affordable cost rental targets too low, they are not even meeting them.
"The schemes are badly designed, while too much bureaucracy imposed on Local Authorities and Approved Housing Bodies are preventing the delivery of more homes and a faster pace.
"The Daft.ie report shows almost every single county with high double-digit rental inflation. Longford has a staggering rent hike of 24%, Leitrim 22%, and Roscommon 20%.
"Darragh O'Brien tells us that there is no housing emergency. Well anyone reading today's Daft.ie rent report would beg to differ.
"Minister O'Brien should support Sinn Féin's PMB declaring a housing emergency today [Tuesday] and then introduce emergency measures to help struggling renters."
