Renters paying the price for Government’s failed experiment
Renters paying the price for Government’s failed experiment - The Labour Party
Labour housing spokesperson Conor Sheehan TD has called for urgent Government action to tackle extortionate rents, warning that the rental crisis is no longer concentrated in Dublin as rocketing rents elsewhere increasingly match the eye-watering costs renters have faced in the capital for years.
Deputy Sheehan said:
“The 4.4% increase in new rents in the first three months of this year was extraordinary. While the rate of increase eased to 1.4% in the second quarter, that does not undo the damage of such a sharp jump. Rents were already extortionately expensive before this increase.
“What is particularly stark is what is happening outside Dublin. For years, Government has treated sky-high rents as primarily a Dublin problem. That argument simply does not stand up anymore. Renters across the country are now facing the kind of prices once associated with the capital.
“People in cities and towns outside Dublin are being asked to hand over enormous portions of their wages just to keep a roof over their heads. There is nowhere affordable left for renters to turn.
“Government pushed through its new rental rules despite Labour warning that they risked putting further upward pressure on new rents. The record increase in Q1 should set alarm bells ringing in Government.
“The moderation to 1.4% in Q2 is welcome, but Government cannot point to a slower rate of increase and pretend the rental crisis is easing. Rents are still rising from an already extortionate base. A smaller increase on an unaffordable rent does not suddenly make it affordable.
“Anyone searching for a home to rent knows how brutal the rental market remains. People face huge competition for a limited number of properties, and increasingly they cannot escape high rents by looking beyond Dublin. Workers and families are being squeezed wherever they live.
“Labour has consistently argued that we need to change the balance of power in the rental market. That means stronger rights for renters, ending no-fault evictions, building social and affordable homes at scale and taking action to stop runaway rent increases.
“Government has presided over a rental market where paying extortionate prices has become normalised across the country. That cannot continue. The Minister for Housing must act to bring rents under control and give renters the security they deserve. Renters have paid enough for Government’s failed housing policy.”