Tenants powerless in face of rapidly rising rents
Dublin Simon Community respond to Daft.ie Rental Price Report
Dublin Simon Community say that figures released today from the Daft.ie 2018 Q1 Rental Report demonstrate how tenants are virtually powerless in the face of rising rents and very low supply. The housing and homelessness organisation also said that the report was further proof that Rent Pressure Zones should be urgently reviewed as they cannot work without proper monitoring and enforcement.
Rents rose nationwide by an average of 11.5% in the year to March 2018. Rents in the capital are now 30% higher than at their previous peak, a decade ago. This is impacting all areas across the country. Most of the urban centres experienced similar increases; in Limerick city the increase was 17.1%; in Galway the increase was 13.6%; in Waterford it was 14.6% in Dublin the increase was 12.8% in Cork the increase was 9.3% respectively. Outside the five main cities, rents rose by an average of 10.1%. Supply was also at the lowest ever level recorded with just 3,086 properties available to rent nationwide. This is the lowest number ever recorded since the series started in 2006 and is a 17% decrease on the same date a year previously. Rents in also increased in Kildare and Wicklow by 10%, while they are up by 12% in Meath.
Dublin Simon Community provide services to over 5,100 people in Dublin, Kildare, Wicklow and Meath who are homeless or at risk of homelessness.
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