Average asking rents are now out of reach of most workers, particularly in our cities
Social Democrats Housing spokesperson Cian O’Callaghan has repeated his call for increased delivery of cost rental and affordable purchase homes following publication of the latest Daft.ie report.
“The most up to date figures on the cost of renting a home in Ireland are bleak. The report found that, at €1,733 per month, average rent at the end of 2022 was 126 percent higher than its low point of €765 in 2011. Rents being sought on the open market for the last three months of 2022 were 13.7 percent higher than the same period in the previous year.
“Lack of affordability in our cities is an insurmountable challenge for most renters. Last year, the rate of inflation in Dublin was 13.1 percent, bringing average rent in the capital to an extortionate €2,324 per month. This puts renting in Dublin out of reach for many workers and is resulting in chronic staff shortages across a range of professions, including teaching and in the healthcare sector.
“At the heart of this crisis is lack of supply, with just 1,096 homes available to rent nationwide on February 1 – a 20 percent reduction on this time last year.
“The Government promised 4,100 cost rental and affordable purchase homes for 2022 in its Housing for All plan. However, not only are the targets set inadequate, they are likely to be missed by a considerable distance when the official figures for the year are published.
“It is clear from the latest Daft.ie report that accelerated delivery of cost rental homes is the only solution to this worsening crisis. The Minister for Housing cannot ignore this reality any longer and must act now.”
February 13, 2023