Greystones in Co Wicklow has been declared a rent pressure zone.

The move will see rent increases frozen at a maximum of 4% per year for the coming years.

Fianna Fail TD Stephen welcomed the announcement.

He said: "When these zones were first announced, the omission of Greystones due to a technicality had a massive impact on local residents. I raised the issue immediately with the then Housing Minister Simon Coveney. He assured me that the increasing prices are under constant review, and that if increases continued, Greystones would be designated as a rent pressure zone.

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"The rental market in Greystones is already pricing dozens of younger families out of the market. When combined with low numbers of properties on the market, rental prices have been increasing at a terrible rate. Today's designation should put the brakes on this rise. If we are serious about addressing the housing crisis, we need to get more ambitious about the actions that need to take place. Fianna Fáil is pushing for the housing crisis to be put front and centre. The time for announcements is over, we need delivery of more social and affordable housing. This is the only way the issue of high rental prices can be tackled in the long run."

(CD/LM)