There is a 48% decline on the number of new tenancy registrations from last year.
Large numbers of private landlords are currently leaving the property market.
New figures from the rental tenancies board shows there is a 48% decline on the number of new tenancy registrations from last year.
The demand for rental properties is rising and the average rent for new tenancies rose by 9% to €1,415.
CEO of The Institute of Professional Auctioneers and Valuers, and Westmeath's Pat Davitt, says that landlords are leaving the market because they are paying too much tax: