Wednesday 21 March 2018

'The solution is ensuring there's more supply' - Varadkar responds to latest rent crisis report

Wayne O'Connor

Wayne O'Connor

The Government has been accused of being complacent and unable to intervene in the rent crisis after a new report found people are paying record high rents.

Fianna Fáil leader Micheál Martin told Taoiseach Leo Varadkar during leader’s questions today that government initiatives were having no impact on soaring rents.

He said the introduction of rent pressure zones and a failure to bring sufficient supply to the market was having a detrimental impact on families.

“The increase in Dublin is shocking and having a real impact on people, 81pc the rents have gone up in Dublin since 2010. Outside of Dublin that figure is 52pc.

It is the dominant measure when it comes to going to third level,” said Mr Martin.

“It is accelerating and making the homelessness issue even worse.

“If you talk to any family they will tell you that rents have gone through the roof.”

A report published by today shows rents increased by 10.4pc last year compared to 2016. Rents are also 65pc higher than when the market bottomed out after the Celtic Tiger.

Mr Martin also addressed a Department of Finance report published last September titled ‘Tax and Fiscal Treatment of Rental Accommodation Providers’.

“Out of 10 recommendations, some short term, some medium and some long term what is extraordinary is that not one of those measures has been implemented by Government,” said Mr Martin.

Taoiseach Leo Varadkar said he would like to see the report again before commenting on it. However, he added the government is working to improve supply to the market and address rising rents.

“The solution is ensuring there is more supply.

“That is what we are doing. You can see the number of student accommodation being built in recent years ad the ramp up in the supply of social housing.”

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