Over 18 months of data shows Rent Pressure Zones aren’t working – Ó Broin
Sinn Féin Housing spokesperson Eoin Ó Broin TD has called on the Minister for Housing Eoghan Murphy to use the upcoming Housing and Residential Tenancies Act to scrap the failing rent pressure zones and introduce real rent relief for tenants.
Speaking in the Dáil today during questions on Promised Legislation, Deputy Ó Broin referenced the publication this week of the Residential Tenancies Board quarterly rent index which proved that rent pressure zones are not working.
The Dublin Mid-West TD said:
“We now have nine quarters of data which shows that the 4% cap in rent hikes in Dublin has not in any way tempered the rising cost of rents.
“In Q1 of 2017, Dublin rents increased by 7.7% on the previous year. In Q1 2018, they increased by 8.7%. In Q1 2019, they increased by 8.5%.
“Average rents in Dublin are now €1,662 per month. That’s €3,024 more per year to when the Rent Pressure Zones were introduced.
“Rent Pressure Zones are a policy failure.
“The Minister should grasp the opportunity of the forthcoming Residential Tenancies Bill to introduce real relief for hard pressed renters and those locked out of the rental sector.”