The latest Daft.ie Rental Price Report proves that the maximum rent increases allowed for in Rent Pressure Zones (RPZs) are not being enforced, according to Social Democrats TD Cian O’Callaghan.
Deputy O’Callaghan, who is the party’s housing spokesperson, said:
“The report published today shows that market rents rose by an average of 2 per cent in the second quarter of 2024. This marks the 14th consecutive quarter in which rents nationwide have increased – and the 45th time in the last 48 quarters.
“The average open market rent nationwide rent for Q2 of this year was €1,922 per month – up 7.3 per cent year-on-year and 41 per cent higher than before the outbreak of Covid-19.
“Average market rents in Dublin were €2,427, up 3.5 percent, while the €2,000 mark has now been breached in Cork, Limerick and Galway at €2,005, €2,107 and €2,114 respectively.
“As previous Daft reports have found, availability on the rental market continues to be extremely tight. On August 1, there were just over 2,200 homes available to rent – exactly half the average of 4,400 for the years 2015-2019.
“The latest figures are further proof that the maximum 2 per cent rent increases allowed for in Rent Pressure Zones (RPZs) are not being enforced, which is putting renters under huge pressure.
“Due to the critical state of the market, it is essential that thousands of cost rental homes are built each year. However, given this Government’s appalling lack of delivery in this area, it is clear that it is going to take a general election before we can achieve this.”
August 26, 2024