Daft.ie have today published their annual report on the state of the rental market within Ireland. Due to higher levels of supply the rental market continues to soften with rents falling on average nationally by 17.6% for the year to July 2009. Urban areas appear hardest hit presumbaly where supply is the highest. Locally within County Mayo rents have fallen by 8.2% and within the Connaught region by 14%. The short term outlook withi thw ider property market is that prices may moderate further making properties more difficult to sell and this in turn will have a knock on effect in increasing supply which ultimately is likely to reduce rents further.

A full copy of the report is availble from www.daft.ie