Nothing 'targeted' about policy that only benefits big cities
Published 14/12/2016 | 02:30
There's a line in the Government's 'Strategy for the Private Rental Sector' that describes the new rent pressure zone system as a "critical intervention" to "alleviate conditions" in areas where the market has failed.
"This is not a system of national rent control of the kind that has been proposed by others, which would apply nationwide for an unlimited duration, completely undermining wider efforts to create a viable rental sector," it says. "The system we are introducing involves a more targeted, objective, time-bound intervention to provide for rent predictability in high pressure areas."
The problem is this measure is far from targeted. Many tenants will be hit with substantial rent hikes over the coming months in the absence of controls outside of Dublin and Cork, and there are concerns that prices in the commuter belt will rise until these towns receive a similar designation.