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Highest ever rent increases recorded in latest rent report - Eoin Ó Broin TD

21 November, 2022 - by Eoin Ó Broin TD

Sinn Féin spokesperson on Housing, Eoin Ó Broin TD, has demanded that the Minister for Housing take emergency action to tackle runaway rents. 

The call was made as the Quarter 3 rent report shows new rents surging by 14%, the highest increase since started publishing such reports in 2006.

Teachta Ó Broin said:

“The latest rent report has set a new record. 

“In the last 12 months, new rents have increased by an average of 14% to €1688 a month or €20,256 a year. In Dublin, average new rent is now €2258 a month or €27,0996 a year.

“This is the highest ever rent increase recorded in a rent report since they began publishing rent reports in 2006.

“The Minister for Housing, Darragh O’Brien, must take emergency action to tackle runaway rents. This means a three-year ban on rent increases. It means a properly designed refundable tax credit to put a month's rent back into every private renter's pocket.

“It also means increasing and accelerating the delivery of genuinely affordable cost rental homes.

“Not only are the government’s affordable cost rental targets too low, they are not even meeting them. 

“The schemes are badly designed, while too much bureaucracy imposed on Local Authorities and Approved Housing Bodies are preventing the delivery of more homes and a faster pace.

“The report shows almost every single county with high double-digit rental inflation. Longford has a staggering rent hike of 24%, Leitrim 22%, and Roscommon 20%.

“Darragh O’Brien tells us that there is no housing emergency. Well anyone reading today's rent report would beg to differ. 

“Minister O’Brien should support Sinn Féin’s PMB declaring a housing emergency today [Tuesday] and then introduce emergency measures to help struggling renters.”

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