Rents remain “stubbornly high” despite impact of Covid 19 - Eoin Ó Broin TD
Sinn Féin Housing spokesperson Eoin Ó Broin TD has commented on the publication of the Q2 2020 Residential Tenancies Board (RTB) Rent Index.
The report indicates that rents have risen by 1.8% across the State annually. Rents have increased by 3.3% in the commuter belt area and rents have remained stubbornly high in Dublin.
Deputy Ó Broin said:
“The data in the RTB Rent index report for Q2 of 2020 indicates that despite the pandemic and the emergency ban on rent increases and evictions, rents across the State have risen or remained stubbornly high.
“In Dublin, which accounts for 42.3% of all tenancies registered with the RTB, average monthly rent remains at €1,709 despite the ban on rent increases and evictions.
“Interestingly, in Dublin the average rent for houses has fallen with the rents for apartments increasing marginally by 0.6% annually.
“In the commuter belt, average rents have risen by 3.3%. Overall across the State rents are up by 1.8% annually.
“The report also shows significant increases in Carlow, up 7.5%, in Mayo rents are up 8.5% and in Roscommon they are up 6.7%.
“Overall this report shows that 7 months into a public health crisis, the rental market has remained stubbornly resistant to any real moderation in rents.
“This tallies with the latest report from Daft.ie which shows that average asking rents increased by 1.2% state-wide to €1,412.
“The government cannot afford to sit on its hands and see what the market will do. We need to see a ban on rent increases and in Budget 2021 we need to see real capital investment in affordable cost rental homes that are available to rent at between €700 and €900 per month."