Labour Youth has welcomed calls by Minister Jan O'Sullivan and Senator Aideen Hayden for the introduction of a rent cap in the rental housing market.

Labour Youth notes with concern the alarming rise in rental costs, which increased nationally by 4.8% last year. It views the rise in Dublin rents by 7.5% last year as an issue of particular concern.

Labour Youth National Chairperson Ciarán Garrett stated: "Private landlords are clearly exploiting the high demand for a short supply of affordable housing. Labour Youth strongly supports Senator Aideen Hayden's call for the construction of further social housing. A survey conducted by Daft.ie in August reported a drop in the number of rental properties in Dublin from 4,212 to 2,394 in the previous year.

-- Advertisement --

"The construction of further social housing would provide urgently required affordable accommodation as well as an opportunity for the State to invest in energy efficient housing. The Government spent €400 million subsidising private landlords with rent allowance supplements from the social welfare budget in 2013. Labour Youth believes that the construction of new social housing makes good economic sense and would provide much needed stimulus to the construction sector.

"Labour Youth further supports Minister Jan O'Sullivan's call for the increased regulation of the rental housing market that would bring the Irish rental market into line with countries such as France, Canada and Germany. We support the argument for linking rental increases to cost of living increases. This would help protect tenants from exploitative private landlords."

(CD)