Shovelling money to developers will not solve rental crisis – Government need to commit to more direct build housing

Senator Rebecca Moynihan
09 November 2020
  • Drop in Dublin rents can be attributed to the decline of Airbnb due to Covid 

The Government need to commit to funding much more direct build housing to solve the rental crisis according to solve the rental crisis according to Labour Housing Spokesperson Rebecca Moynihan.

Senator Moynihan was speaking after the release of the latest Daft quarterly report showing that while rents have fallen slightly in Dublin they are climbing in the rest of the country.

Senator Moynihan said:

“While rents have fallen slightly in Dublin, this is no time for the Government to pat themselves on the back and this fall in rental prices can be in part attributed to the decline of Airbnb due to the collapse of short term tourism rentals due to Covid-19.

“Rental prices in Dublin and across the country are too high and prices will rise again in Dublin as soon as tourism recovers post Covid.

“The Government need to commit funding much more direct build housing. It’s very disappointing that with the largest housing budget ever, the Minister is only providing 400 affordable rental units with no timeline for delivery of these.

“Labour believes that Housing should be delivered directly by the State. In our alternative budget we set out plans to seek financing to spend €500m on 4,000 affordable or cost rental homes. Publicly owned land needs to be used for the cost rental development of housing.

“If the Government are serious about fixing the rental crisis then they need to address the supply issue that’s driving high rental prices. The Minister’s housing budget was unfortunately little more than a sop to developers and landlords and the crisis will continue and worsen again post Covid unless the state stops relying on the private market and developer led planning.

“This Daft report shows that rents are still increasing nationwide because the stock of available homes to rent is at an all-time low. Minister O’Brien’s policies will only deepen the crisis by shovelling wads of cash to developers thinly disguised as ‘affordable housing’ plans which will not meaningfully address the rental crisis.

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