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03/01/2018

Increase In Average Rent For New Tenancies

The average rent for new tenancies increased by 10% in 2017 compare to the previous year, according to new figures.

The data from the Residential Tenancies Board also surpassed the previous peak ten years ago by 7%.

Labour housing spokesperson Jan O'Sullivan confirmed there are now nearly 9,000 people, including almost 3,400 children homeless.

She said: "My own constituency of Limerick, which is not a designated rent pressure zone, has seen the fastest rate of inflation, with average rent up by around 19% year on year.

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"As part of efforts to address the housing and homelessness crisis, we also need to keep people in their homes and prevent them from becoming homeless in the first place.

"Extending the rent pressure zones, linking rent increases to the CPI, and tightening up the area surrounding tenant evictions where a landlord is selling or carrying out refurbishments on a property are some measures that could be taken to address the issue.

"The chronic undersupply in the rental market at present means tenants are very much at the mercy of landlords, and we need to get about providing affordable homes to rent as well as buy."

(CD/MH)

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