Latest Daft report ‘paints grim picture’ of rental market, says O’Callaghan

The latest Daft report paints a “grim picture” of Ireland’s rental market and is further proof that the Government’s housing plan has failed, according to Social Democrats TD Cian O’Callaghan.

Deputy O’Callaghan, who is the party’s Housing spokesperson, said the latest report “is a stark reminder of the scale of the crisis£, both in terms of increased rents and the shrinking supply of properties.

“According to the report, the average rent sought for a home nationally between July and September was a record 14.1 percent higher than it was during the same period last year.

“The average monthly rent for a residential property across the country was €1,688, a 4.3 percent increase on the previous quarter and the largest quarterly increase recorded by Daft since 2005,” he said.

“With just 1,087 homes listed nationally on Daft, it is clear that shortage of supply is driving up rents to unsustainable levels, with 60 percent less homes available than last year.

“In Dublin, the increase was 14.3 percent, with average asking monthly rent at €2,258.

“The figures show that the Government’s housing plan is an abject failure.”

Deputy O’Callaghan says that the Government’s goal for the number of new builds does not meet what’s required.

“The Government have been patting themselves on the back on the basis that 28,000 homes are predicted to be delivered this year,” he says.

“This is despite a general consensus that at least 40,000 new build homes are needed each and every year.

“There has been a complete failure to regulate short-term lets, which is having a disruptive effect on the supply of long-term rental homes.

“There were 35,000 vacant rental homes on the night of the census – many of them empty as they are used as short-term lets.

“We need an end to constant Government spin on housing and a new focus instead on delivering homes that are affordable to rent and buy.”