“An hour later and I've left the queue after no real movement or chance of viewing the house tonight. People were still joining the end of the queue as I left.”
The queue formed along the street in the Drumcondra area on Tuesday night, where more than 100 people arrived for a house viewing at around 8.30pm with a further 50 joining in after 30 minutes.
Conor Finn, who posted footage of the long queue, tweeted that he had waited for an hour before giving up and leaving.
“This is what a house viewing now consists of in Dublin,” he tweeted alongside pictures of people standing along the street. “Over 100 people waiting in line for a rental property.”
He added: “Been here almost 30mins, barely any movement and 50+ more have joined the queue.”
Finally he gave up, adding: “An hour later and I've left the queue after no real movement or chance of viewing the house tonight. People were still joining the end of the queue as I left.”
Dozens of people replied to the posts, expressing their frustration with the rental crisis in the city that has left many in desperate search for accommodation
“I am speechless.. that is terrible. Really gives a sense of the scale of the problem,” one person said.
“Why would you bother?” added another. “Unless you’re like me and whack down a year’s rental… even then, I wouldn’t have waited more than a few people.”
One declared: “That's insane Conor!!”
Earlier this month it was revealed how rental price rises had hit an all-time high, with supply at its lowest level since Daft.ie records began in 2006.
The cost of accommodation shot up by 12.6pc in the three months to June when compared to the same period last year, according to the Daft.ie asking price survey.
This is the highest level of rental inflation since Daft first started compiling the rental index 16 years ago.
The average monthly asking price hit €1,618 due to a chronic shortage of supply as small landlords leave the market in their droves.
There were just 716 homes available to rent in the entire country on August 1, 2022, compared to a whopping 23,400 in August 2009.
The average monthly asking price for a new rental in Dublin is now €2,170 in Dublin.
The survey covers asking prices for new tenancy agreements. Most of those in existing rentals will not have had the same level of increase.
However, rental asking prices are up 3.3pc in the first three months of the year, according to Daft.ie.
The annual rental inflation rate of 12.6pc is higher than the previous peak of 11.8pc recorded in late 2016.
It comes as figures also showed how small-scale landlords are leaving the market in record numbers.
The number of termination notices issued by landlords to tenants, as notified to the Residential Tenancies Board (RTB), shot up by 58pc in the first six months of 2022 compared to the previous six months.
Rising interest rates, high property prices and complaints about regulation and taxes are cited as the reasons so many smaller landlords are selling up.
Daft.ie rental report author, and Trinity College associate professor, Ronan Lyons said the scarcity of homes was unprecedented over the past year.
The 716 homes available to rent on August 1 was down from almost 2,500 a year ago.
And it is a new all-time low since Daft took stock of rental supply back in 2006.
Rental availability is now down almost 100pc since 2009.
Prof Lyons said: “A resurgent economy over the last year has accentuated the chronic shortage of rental housing in Ireland.
“While the professional rental sector has added over 7,000 new rental homes in the last five years, this is small relative to the fall of 30,000 in rental listings each year in the traditional rental sector in the same period or the fall of 100,000 listings per year since 2012.”
He said the shortage of rental accommodation translates directly into higher market rents and this can only be addressed by significantly increased supply.
Prof Lyons said there are almost 115,000 proposed rental homes in the pipeline, but these are concentrated in the Dublin area.
“While nearly 23,000 are under construction, the remainder are earlier in the process and the growth of legal challenges to new developments presents a threat to addressing the rental scarcity.”