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Rent prices in Dublin have once again reached record levels.

Tenants across the capital are paying almost €500 more a month then they were during the previous peak a decade ago.

That equates to a 13.4% rise in rental prices in the year to June 2018, according to the latest rent report from Daft.ie.

And they have risen a whopping 34% since the peak a decade ago.

More properties have been made available over the past year in Dublin, with over 200 more available compared to this time last year.

According to the author of the report, Trinity College economist Ronan Lyons, it indicates the need for more urban apartments in the capital.

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Mr Lyons said: “While the building of new homes appears to be having some effect in the sales market, with inflation easing somewhat, there is no counterpart in the rental sector.

"While urban apartments make up almost all the net need for new homes in the country as a whole, just 13% of new homes completed in the year to March were urban apartments.

"In that context, it is unsurprising to see rents rise once more.

"As before, with such a mismatch between supply and demand, policy must focus on dramatically increasing the construction of urban apartments, for both market and social housing needs.”

There are also fears that students will be forced out of education due to the financial strain placed on them by the housing market.

Shane De Rís Trinity Students’ Union President said: "It is tragic that yet again we’ll see students forced out of education due to the financial strain placed on them by the housing market, forced to delay their future due to Government inaction.

"There is no easy-fix to this crisis, but the time for action has already arrived.The housing crisis is the biggest obstacle facing the future of higher education in this country today."