Posts

A recent DAFT report highlights further rent hikes nationally, particularly in our urban centres where demand for property is particularly acute. Rents rose by approximately 10.2% nationally, but in the cites the rise was even higher. In Dublin rents rose by 10.9%, in Cork and Galway 12% and in Limerick they rose by almost 15%.

These unfettered rent rises are deeply troubling, with average rents in regional cities exceeding €1,000 and in Dublin they have peaked at more than €1,200. Furthermore, there are no indications to suggest that such rises have yet peaked.

While one of the most significant rises was in Limerick, which is not yet a designated rent pressure zone, there were also considerable rent hikes within current rent pressure zones that far exceed the 4% maximum set out by government. While we welcome the genesis of rent pressure zones, there must be enforcement if the policy is too work.

Continued rent increases are due largely to demand exceeding supply and until further accommodation is built and brought back into use, rent increases will continue.

Unfettered rental costs highlight the unsustainability of relying primarily on the private rented market for social housing. It is an expensive and insecure way of providing households with accommodation. There needs to be urgent focus on local authorities building new homes on a much greater scale.