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Rents at record high, Rent certainty urgently needed – Ó Broin

14 February, 2017 - by Eoin Ó Broin TD

Sinn Féin spokesperson on Housing Eoin Ó Broin TD has called on the Minster for Housing Simon Coveney to introduce rent certainty as figures published this morning by Daft show that rents are at a record high across the state. The report indicated that rents have risen by an average of 13.5% between September and December 2016.

Deputy Ó Broin said: 

“Daft’s figures for the final quarter of 2016 are hugely concerning. The average monthly rent is now €1,111. This is an increase of 3.2% on the third quarter of 2016. In Dublin, rents jumped by 4% on average in three months, the largest three month increase on record. Rents in the capital are now almost 14% higher than their previous peak at the start of 2008, an average increase of €200 per month. The picture is bleak across the state with just 900 homes available to rent across all of Munster. Rents in the cities outside Dublin are rising to unsustainable levels, with rents in Limerick rising by 12.5% in the last year and in Galway by 10%. 

“This Government is continuing to fail renters. Minister Coveney had an opportunity before Christmas to halt unaffordable rent increases. Instead, he gifted landlords with a 4% year on year rent increase for the next three years. The Minister’s failure to get to grips with the crisis in the rental sector continues to heap pressure on struggling renters and effectively locks low income earners out of the rental market. 

“Fianna Fáil has also stood idly by as rent increases continue to impact citizens in towns across the state. Despite voicing support for rent certainty, Fianna Fáil’s support of the Minister’s weak rent pressure zone proposals, while voting against numerous rent certainty amendments Sinn Féin has pushed, demonstrates that they are more concerned with propping up Enda Kenny than helping struggling renters.

“We know Rent Certainty alone will not resolve the issue of high rents. It will however put a break on the unaffordable rent increases that thousands of people across the state are facing. The Minister must accept that rent certainty linked to the consumer price index is now required as a matter of urgency. Minister Coveney must reconsider his rent pressure zone strategy and legislate for real rent certainty.”

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