Rental market on track to lose 15,000 tenancies in 2023

A new analysis by Sherry FitzGerald said more than a third of its vendors in the first quarter of 2023 were landlords

The analysis of transactions in the first quarter of 2023 found that the average value of a second-hand home in Ireland was up 0.8 per cent in the first three months of the year.

Sherry FitzGerald, the estate agency, has estimated that the rental market could lose 15,000 tenancies this year.

The agency said an analysis of its own transactions showed that 13 per cent of purchasers of second-hand homes were investors, while 36 per cent of its vendors were investors who were selling their rental property.

Marian Finnegan, managing director of Sherry FitzGerald, said if this trend continued across the rest of the year, the rental sector could ...