Sinn Féin Louth TD Gerry Adams has warned that the Government’s strategy for tackling out of control rents is failing. The Q2 2019 data published by the Residential Tenancies Board and the ESRI is clear evidence that rent pressure zones are not working.
Teachta Adams said:
“The report from the RSB and the ESRI on rents provides the clearest evidence yet that the government’s rent pressure zones policy is not working and that rents in Louth continue to be among the highest in the state.
Data released by the Residential Tenancies Board shows that rents have breached the rent pressure zone cap of 4% in 22 out of 26 counties.
Very specifically Louth was one of seven counties where the “standardised average rent exceeds (or equals) €1,000 per month, Cork, Dublin, Galway, Kildare, Louth, Meath and Wicklow”.
When you examine rents by Local Electoral Area (LEA) all five covering Louth have seen significant increases in the local standardised average rents when compared with the standard across the state.
Claims by the Minister that the rate of inflation in rents is slowing rings hollow when set against the fact that renters are still being hit with monthly rents well above the 4% cap.
I believe that the government now needs to accept the logic and sense of Sinn Féin’s proposal that there should be a three-year emergency rent freeze, combined with a refundable tax credit for renters that would put the equivalent of one month’s rent back in their pockets. There also needs to be a major investment in affordable cost rental in Budget 2020”.