Comprehensive response needed from Government on rental crisis

Commenting on the latest report from the Residential Tenancies Board, Labour Housing spokesperson Jan O’Sullivan TD has said tenants are still facing rising rents, with those outside the rent pressure zones experiencing a knock-on impact.

Deputy O’Sullivan continued:

“When you look past one of the takes from this latest Residential Tenancies report that shows a slowing in the growth rate of average national rent, we are left with another stark realisation: rent is still rising, with levels now above the highs hit before the housing market crash ten years ago.

“For people in Dublin, the story remains a grim picture, with average rent standing at just over €1,500, an annual rise of 6 per cent.

“As is outlined in today’s Irish Independent, the pressure cooker of high rents in Dublin has also had a knock-on impact on the greater Dublin region, which has experienced the highest rent hikes of 7.5 per cent.

“We know that at the core of this problem is the crucial supply issue that must be addressed by Government, but also the fact that rent for new tenants is continuing to rise. This means that in the current competitive rental market where very little is actually available, people on normal incomes are being squeezed out.

“Had rent been linked to the Consumer Price Index, as was proposed by the Labour Party, rents outside the pressure zones would have only seen rises of around .5 per cent in existing agreements.

“Greater transparency is also needed for new tenants signing on to new leases; there should be an onus on landlords to inform new tenants what the previous tenant was charged, so the spotlight can be shone on any extortionate rent increases.

“It’s long past time for a comprehensive response from Government to the growing number of people squeezed in a rental market that isn’t delivering.”