Dublin South West TD, Seán Crowe, has described the latest report from Daft.ie, which shows rents rising in Dublin in the last quarter in 2016 at 14.5%, as consistently bad news for anyone trapped in the rental sector.
The Sinn Féin TD stated that this is the largest annual increase in rents ever recorded in the Daft.ie Report, which extends back to 2002.
Deputy Seán Crowe said:
“Rents in Dublin are at an all-time high and half-hearted measures introduced, no matter how well-meaning, have had no impact on the cost of renting accommodation.
“In Dublin the annual rate of rise in rents during 2016 was 14.5%, the second highest rate on record since they began by Daft.ie back in 2002.
“Rent increases are pushing individuals, couples, families and children into homelessness. Increases have also widened the gap between the rates of rent supplement and the open rental market.
“It has literally trapped those in homelessness with the options for moving on non-existent and on a weekly basis it is pushing thousands of more households to or into the very verge of homelessness.
“Again according to Daft.ie, rents in Dublin city and across the suburbs are now 13.7% higher than their previous peak in early 2008 – or an average of almost €200 a month. Unfortunately wages are not matching or in any way competing with these increases.
“The lack of housing supply has been identified as a key issue leading to rising rents and supply of appropriate, affordable and the quality of that supply is extremely important.
“5 years ago there were almost 12,000 properties available to rent nationwide. In February last year there was just 3,600 available. This year has shown a slight improvement of 400 extra units available but with an increase in population and more and more people seeking to rent, the difficulties are obvious.
“We know that supply alone cannot solve all the problems of rapidly rising rents or that it will automatically reduce the number of homeless households.
“There is common agreement that rent certainty is a key part of the solution, but again not the sole solution.
“However, without that rent certainty there can be no solution to the emergency that is destroying so many of our citizens’ lives.
“The response of the Government has been half hearted and minimalist with Minister Coveney spending more of his limited time convincing his own reluctant colleagues on partial solutions rather than dealing with the growing housing crisis.
“We need rent certainty and it needs to be delivered now as the crisis in the rental sector as outlined in this latest Daft.ie report is impacting disproportionately on citizens’ lives every day.”