Daft Report shows failure of Rent Pressure Zone model

EMBARGOED UNTIL 00.01 TUESDAY AUGUST 22nd 2017

Labour spokesperson on Housing, Jan O’Sullivan TD, reacting to the latest Daft report has said that it shows the absolute failure of the Government’s Rent Pressure Zone model to slow the pace of increases in the rental market.

Deputy O’Sullivan said:

“The latest Daft.ie report on quarter 2 2017 shows that Government has completely failed in their efforts to control skyrocketing rents.

As a result of this failure it has placed thousands of households across the country under further pressure.

“Last Autumn the Labour Party introduced a Bill in the Dáil that would have established reference rents in different locations and would have limited rent increases to the increases in the Consumer Price Index.

“That Bill was voted down by the Government with the assistance of Fianna Fáil.

“The Rent Pressure Zone alternative simply hasn’t delivered and cities like Limerick and Waterford are still excluded despite yearly increases of 10.8% in Limerick and 8.4% in Waterford.

“Minister Murphy will have to go back to the drawing board quickly if we are not to see more and more families becoming homeless because rent prices are simply beyond their means

“The rate of rent increases is completely out of control with no reference towards affordability, salaries or the inflation rate in the economy as a whole.”