It is clear rent caps are nothing more than window dressing

Rents across the country are out of control with rents in Dublin now 50pc more than the Celtic Tiger peak, according to Social Democrats Housing Spokesperson Cian O’Callaghan.

“Last year, rents across the country increased by an average of more than 10pc. Meanwhile, 20 counties had double-digit rent increases, of up to 25pc in Donegal. In Dublin, in just the last three months of the year, the increase was 4pc.

“Average rents in Dublin now range between €1,900 and €2,258. To put this in context, only the top 2pc of earners can actually afford this rent – which requires a salary of €115,000 to be affordable.

“A separate report today has confirmed that ordinary workers and families are locked out of homeownership, with cuckoo funds outbidding them on homes by an average of more than €100,000.

“Today’s report makes clear that ordinary workers and families are also increasingly being priced out of the rental market. Even the dribble of supply that is coming onto the market, is priced out of the reach of most ordinary workers.

“The government’s response to this crisis has been to fiddle with rent caps, which are now set at 2pc. Given the double-digit rent increases replete across the country last year, it is clear rent caps are nothing more than window dressing. They are doing nothing to stop sky-high rent increases.

“The answer to these outrageous and unaffordable rent increases has been obvious for years now – ban rent increases and dramatically increase the supply of public, affordable and cost rental homes. Regrettably, the government is refusing to act – and ordinary people are suffering as a consequence.”

9 February, 2022


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