Rents in Dublin are so shockingly high that many working people are denying themselves basics so they can meet their monthly payments, Social Democrats co-leader Catherine Murphy TD said today.

Deputy Murphy was commenting on new figures from estate agent Sherry FitzGerald which show that renters in Dublin are spending up to 55 per cent of their take home pay on rent. The report states that rental growth has far outpaced earnings growth, with tenants now experiencing a “severe burden” on their incomes.

Deputy Murphy said:

“It is shocking and unacceptable that people in Dublin city are now paying a higher percentage of their income on rents than people in Paris. For every €100 a person earns after tax, €55 is now going on rent. That’s a crippling cost, and it puts enormous strains on household budgets.

“Inevitably, it means that people are not able to save and many even have to deny themselves basics such as health check-ups, as well as spending on food and social activities, so that they can keep up with the monthly rent payments.

“These figures are the starkest of reminders of this government’s neglect of the very people the Taoiseach says he wants to take care of – those who get up early in the morning and who earn average wages.

“The Social Democrats believe that we can help renters most by tackling the crisis of supply and affordability in housing. In our Alternative Budget 2018, we proposed caps on rents nationwide and a new Affordable Housing Scheme for first time buyers. The focus also needs to be on reducing people’s cost of living rather than cutting personal taxes, which only puts a few euros back in some people’s pockets each week.

“Our Alternative Budget included €580 million worth of investment in measures to alleviate out of pocket costs many people face in health, education, home and car insurance, and rent payments.”

ENDS

25 October 2017