Govt Urged To Introduce Rent Certainty

Sinn Fein has urgently called on the Government to "look again" at introducing rent certainty after figures from Daft.ie revealed wages are not keeping up with increases in property and rent prices.

Dublin South West Sinn Féin TD, Seán Crowe, said the government needs to alleviate the pressure on people trapped in the rental sector.

Deputy Seán Crowe said: "According to Daft.ie, the average rent in Dublin is running at €1,520. That is 5.2% higher than during the peak Celtic Tiger levels.

"For someone on the average monthly wage of €2,980 living in Dublin, rent for a house will swallow up 51% of their pre-tax wage. That is huge chunk of anyone’s salary.


"This means that buying the average house in Dublin is virtually a no-go area for a person on the average wage.

"Continuous rent increases affects everyone dependent on the private rental sector for their accommodation needs. This includes working families who cannot afford to save to buy a home, low income families that are paying up to 60% of their disposable income on rent, and the increasing amount of students, as there are now 20% fewer properties available to meet this demand.

"In real terms, all of this is leading to a significant reduction in disposable incomes year on year and the erosion of a families’ ability to provide for their housing.

"Earlier this year, Sinn Féin tabled the Rent Certainty Bill 2016 which would have linked rent reviews to the consumer price index. This would have provided much needed stability in the private rental market, for both landlords and tenants."

(CD/MH)