Profiteering reigns in the rental market

Senator Annie Hoey image
10 August 2023
  • Rent inflation totally outstrips wage growth
  • Time to implement Labour’s Renters’ Rights Bill
  • Still no action on Government panacea Rent to Buy Scheme
  • Minister’s refusal to introduce winter eviction ban will have dire consequences

Responding to the Daft report published today, Labour Senator Annie Hoey said hardworking renters continue to be squeezed by a tight rental market.

Senator Hoey said:

“There has been an abject failure by Fianna Fáil and Fine Gael to address the rental crisis which is borne out by the statistics published by Daft.

“Renting in Dublin, where the average rent is €2,344, is simply not a viable option for so many workers. We know that it’s disproportionately impacting younger generations and families. People are trapped in an endless rental market nightmare as they can’t afford to save for a deposit whilst keeping up with monthly payments.

“While rents have “stablised”, the issue for renters is it remains utterly unaffordable. Coupled with poor supply, renters remain at the mercy of landlords. That’s why Labour is urging Government to wake up and implement Labour’s Renters’ Rights Bill which would, among other measures, introduce a transparency register so prospective renters can see what rents previous tenants were charged.

“Increasing transparency in the market is just one of a range of measures currently lacking.

“Outside of the capital, it’s staggering to see the lack of rental homes available for renters, and the huge annual increase in rents in places like Galway, Limerick and Waterford. Rents are rising nationwide, but so too is the cost of living, the price of groceries, meanwhile wages just aren’t keeping pace.

“We’re coming up to the two year anniversary of Housing for All. The crisis we find ourselves in when it comes to the rental market demands a step change in policy approach with a renewed focus on the rental sector.

“In response to Parliamentary Questions put down by Labour leader Ivana Bacik, the Minister for Housing confirmed that no plans are in place to reintroduce the eviction ban this winter. This is an utter failure of politics. Homelessness continues to rise and the least this Government could do is provide certainty to all renters that they will have a roof over their heads this winter.

“Renters are not transient, they are not just young. Renters are single households, families, older people. They must have access to affordable, quality accommodation with security of tenure. This report is another reminder of Government’s failure to protect them.”

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