Tuesday 21 November 2017

Rent controls will only cut supply, just when we need more

Dublin is growing by about 10,000 households a year, meaning that 100,000 new homes are needed in Dublin over the course of the 2010s
Dublin is growing by about 10,000 households a year, meaning that 100,000 new homes are needed in Dublin over the course of the 2010s

Lorraine Courtney

The rise in rent prices is now being directly linked to Alan Kelly's attempts to bring in rent controls. Like so many other Dubliners, I spend around 50pc of my income on rent, a burden that keeps my anger bubbling in a low-level kind of way. But now I am truly angry. And I know that other people out there are too. When we're not numb with hopelessness, we're furious at the uncertainty Kelly's 'rent certainty' measures are causing.

"The single biggest cause of rent hikes in the past six months is Alan Kelly. His half-arsed approach to so-called rent certainty has done nothing other than encourage landlords to increase rents in the meantime," a senior Government source has said.

Experts now believe landlords are seizing on the confusion to hike rents, while at the same time investors are staying out of the market. It's causing hassle within Fine Gael and if Kelly is allowed to go ahead with his plans he could destroy Dublin's rental market.

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