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Despair as Wexford town rental market reaching ‘crazy’ levels

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173 Cluain Dara, which was purchased for around €195,000 in recent weeks and is now listed for rent at €1,900 per month.

173 Cluain Dara, which was purchased for around €195,000 in recent weeks and is now listed for rent at €1,900 per month.

Both three bed semis in Cluain Dara have been listed for rent for €1,900 per month having been recently purchased.

Both three bed semis in Cluain Dara have been listed for rent for €1,900 per month having been recently purchased.

80 Cluain Dara, which was recently purchased for €215,000 and is now listed for rent for €1,900 per month.

80 Cluain Dara, which was recently purchased for €215,000 and is now listed for rent for €1,900 per month.

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173 Cluain Dara, which was purchased for around €195,000 in recent weeks and is now listed for rent at €1,900 per month.

wexfordpeople

LANDLORDS operating in Wexford have been criticised after it emerged that two three-bed, semi-detached houses in Wexford town had been listed for rent for €1,900 per month, just weeks after they were purchased.

The two houses in Cluain Dara in Clonard are among just four properties currently available for rent in Wexford town. Of the two listed for €1,900, one was recently purchased for approximately €195,000 back in May, meaning that the rent being sought would likely be more than twice the monthly cost of a mortgage on the same property.

The other property was listed as "sale agreed” at the end of May for €215,000.

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In the rental listings for both properties, proximity to Wexford General Hospital is listed as a feature, with the landlords perhaps hoping to attract medical professionals who have been unable to source private rented accommodation.

Sources within Wexford General recently stated that medical staff had been forced to reject jobs at the hospital, as a direct result of being unable to find anywhere to rent in Wexford town.

Both Daft listings also wrongly have the address of the properties as Pierce Court, only stating that the homes are in fact in Cluain Dara within the description on the ad.

One of the other four properties listed for rent in Wexford town, at three bed in Clonard Village, is seeking an eye-watering rent of €700 per week.

Elected representatives are running out of ways to express the despair of the current housing situation, and they criticised the listings of these two houses in Cluain Dara.

"A resident from Cluain Dara contacted me and said that both properties seemed to be purchased at the same time,” said Sinn Féin councillor Tom Forde. “They both seemed to have a small bit of work done and were instantly uploaded on Daft for €1,900 per month.

"There are only four properties available in Wexford to rent. Two of these, it seems, few would be able to afford. Are these investors happy to leave the properties idle if they can’t get these rents?

"The rents look to me like greed at the end of the day. The average person couldn’t hope to afford that. People are in desperate situations. If your landlord was selling up and you went onto Daft or other property sites, it doesn’t give you any light at the end of the tunnel.”

Independent councillor Leonard Kelly shared his council colleague’s concerns.

"The concern is that this price of €1,900 per month for a three-bed semi in Wexford would become the new benchmark," he said. “It seems crazy to me. They say that a working couple shouldn't spend more than 30% of their take home pay on rent or a mortgage. In order to afford these rents, a couple would have to be earning €80,000 to €90,000 per year. It puts properties completely out of reach for a large portion of working people.

"Unfortunately, I don't see things getting any better. I don’t see rent pressure zones making any difference, because it hasn't made a difference in places like Gorey. I know we can talk about supply and demand, but I think a house like that would have been maybe €800 per month a few years ago.”

While it's unclear who exactly the landlords are in the case of the Cluain Dara properties, there are concerns locally that Wexford has become a ripe breeding ground for investment groups keen to capitalise on spiralling rents.

"Anecdotally, I’ve spoken to friends who've sold houses or whose landlords have recently sold up and it seems a lot of properties are being purchased by people who own five or six homes already," Cllr Forde said. “I know people are entitled to invest their money how they see fit, but in my view, at the end of the day it tends to affect the most vulnerable.”


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