Waterford city is one of the few urban centres in the country currently bucking the fall in rental charges, with property website Daft.ie reporting a 2.1% increase in recent months.

Though rents countrywide have fallen to ther lowest levels in more than two years, the average rent in the city has increased to €759 per month over the last three months. Landlords in the county, however, experienced a drop of 0.2% to €684/ month.

The site says that rents have dropped by an average of 3% across the country in the past three months, due to what it called the dramatic increase in the number of properties available to rent. At the start of November, there were over 18,000 properties available to rent nationwide, up 133% on the same time last year. The current downturn in rents is closely related to ongoing uncertainty in the broader housing market.