Peter McVerry Trust, the homeless and housing charity, has said it is deeply worried by new figures which show that rent prices rose by 13.4% nationwide in just 12 months. The charity was responding to the latest Rental Price Report from the property website Daft.ie for the first quarter of 2017.
The charity’s CEO, Pat Doyle, said, “The report paints a deeply worrying picture and shows the current situation is unsustainable. Tenants are under huge pressure, and those people who are dependent on the rental system for their housing needs are looking at rents that are up to 15% higher than the Celtic Tiger peak with the lowest number of properties to rent since 2006. Our concern is that rapidly rising rents this will lead to more tenants becoming homeless.”
Affordability and New Supply
“What we need to see is more affordable rental accommodation come into the system and quickly. Peter McVerry Trust and others have called for affordable rental and cost rental schemes to be provided but progress has been too slow.”
“The Government initially announced an Affordable Rental Pilot in October 2015 and funding of €10 million was set aside. To date, little if any progress has been made in the delivery of an affordable rental model. A report on a potential cost rental model, as part of Rebuilding Ireland, to be written by the Department of Housing is not due until the end of 2017 at the earliest. These schemes need to move faster in order to get affordable accommodation into the system.”
Affordable Housing Authority
Mr Doyle also called for the Government to fast-track the creation of an Affordable Housing Authority to help deliver affordable rental options. “The creation of an Affordable Housing Authority could be fast-tracked by large scale purchase of empty buildings. A scheme to bring empty residential stock as well as converting commercial buildings to residential use could deliver thousands of rental units in Dublin alone. This would help meet the needs of many tenants who are unable to meet the costs of renting now demanded by the market.”