RTB Data Confirms Rent Pressure Zones Aren’t Working - Eoin Ó Broin TD
Sinn Féin housing spokesperson Eoin Ó Broin TD has called on Minister Murphy to urgently rethink his government’s failing rental policy as data from the Residential Tenancies Board (RTB) released today shows that the rent pressure zones aren’t working. The latest report from the RTB provides the first full year data since the rent measures were introduced.
Deputy Ó Broin said:
“The RTB report released today gives us the first full year figures since the rent pressure zones were introduced. The data confirms that the government’s policy is not working.
“The annual increase in rents across the State is 6.4% with average rent for new tenancies is now €1,054 per month compared to €986 during the same time in 2016. 22 out of 26 counties have experienced rent increases above the 4%.
“Within the rent pressure zones rents are breaching the 4% cap. In Dublin the average rent was €1,511 in Q4 of 2017, up 5.2% on 2016.
“In the Dublin commuter belt counties of Meath, Wicklow and Kildare the average rent is now €1,103, an increase of 7.5%. Meath rents are up 11%, Wicklow rents are up 9% and Kildare rents are up 6%. In Cork City, rents are up 5.2%.
“As Sinn Féin warned, those areas outside the rent pressure zones are seeing dramatic rent increases. In Sligo rents have increased by a massive 29% since 2016. In Limerick City increase was 10% and rents in Waterford City have increased by 7.4%. In Mayo and Westmeath the increase is 13%.
“Sadly it confirms what Sinn Féin stated when voting against the legislation in December 2016. The introduction is rent pressure zones are not stopping rent increases. They are also creating a two tier rental market.
“We need real rent certainty. This can only be achieved by linking rents to an index such as the CPI. Until Government does this renters will continue to struggle with ever increasing and unaffordable rents.”