As it stands, students are unlikely to even get a viewing, so digs must be promoted

RIGHT now, the Leaving Cert class of 2017 is poised to join the chronically undersupplied Irish housing market. Following CAO offers for college and university, the lion’s share of this group will be seeking accommodation in one of the worst pressure points of the current market before the start of September.

A cursory glance at the available data shows the challenge awaiting them.

There are now fewer than 3,000 properties to rent nationwide – the lowest figure on record for the country. In Dublin, there were just 1,121 properties available to rent on August 1. That’s more than 20pc fewer than the same date in 2016.

The most important knockon effect from this undersupply is, of course, a rise in cost. Rents are now 13pc higher than their 2008 peak. In Dublin, where many new third-level students will be looking, rents are now 18pc higher than their previous peak. The average property in the capital now costs €1,741 a month to rent. That’s one-and-a-half times the current average rent nationwide of €1,159.

This isn’t a happy picture for anyone in the rental market. But the class of 2017 are largely low-income newcomers in one of the most competitive areas of the housing market. The majority can only afford to rent for nine months instead of the standard 12 and don’t have stable earnings or prior references. In the private rental sector right now, it’s unlikely they’ll get a viewing, let alone a lease.

The situation is so bad that if it’s to be even partially resolved before September, it requires major collective action from a range of stakeholders. As an example of what that kind of initiative could look like, Students’ Unions from Trinity College Dublin and University College Dublin have started working together with Daft.ie to put more affordable, student-specific beds on the market.

We’ve collaborated with homeowners and students to promote the Irish rent-aroom scheme more commonly known as “digs”.

Under the existing legislation, Irish homeowners can earn a yearly sum up to €14,000 in non-taxable income from their spare

rooms. But take-up remains low because of negative stereotypes on both sides and a complete lack of profile.

So, for the past few weeks, UCDSU and TCDSU have canvassed local homeowners and students of their respective institutions for positive testimonials of living in digs. If this scheme doesn’t see a rise in take-up despite these efforts, many young people relieved after their Leaving Cert results are going to have their spirits crushed. While available campus accommodation is generally allocated to incoming first-years, it’s not adequate to house them all.

Countrywide funding cuts to colleges and universities have slowed down badly needed development of their student residences and will continue to hinder it until they are reversed. Even the recent increase in purposebuilt student accommodation by private developers won’t alleviate pressure for the majority – as, on average in Dublin, students are spending €1,500 more on this type of housing than the average for what’s available in the general market.

In this context, college authorities, students unions and the Government need to promote college digs as a priority over the next few weeks to make sure Irish homeowners are informed of how they can contribute to solving this crisis and the cash flow gains to be made.

Otherwise, many young people coming from outside urban areas – who don’t live near a university and can’t shoulder the costs of a long, pricey commute – will have to defer their college courses this September.