Limerick TD says 16.7% rent increase is ‘scandalous'

Nick Rabbitts

Reporter:

Nick Rabbitts

Maurice Quinlivan wants rent controls in Limerick

Maurice Quinlivan wants rent controls in Limerick

SINN Fein TD Maurice Quinlivan has repeated his call on Housing Minister Eoghan Murphy to introduce rent controls in Limerick.

It comes after figures out this week revealed prices for tenants have skyrocketed once again year-on-year, a move claimed as “scandalous” by the City TD.

According to the Daft.ie quarterly rental report, the average rental price in Limerick is now 16.7% higher than in the last quarter of 2017, ending the year at €1,171 – and €827 in the county.

Mr Quinlivan said: “Renters in Limerick are continuing to see their rates spiral out of control, as Fine Gael refuse to take radical action to address the problem. Limerick has been particularly hard hit with huge rent increases. Rents are continuing to rise to unsustainable levels. This is not a sustainable situation. How on earth are working people looking to rent in Limerick supposed to afford such an increase in rent in one year?”

Mr Quinlivan acknowledged rent certainty will not resolve the issue of high rents.

“It will however put a break on the unaffordable rent increases that thousands of people are facing. The huge increase in rents coupled with a severe shortage of homes to rent and buy is exacerbating the housing crisis,” he said.

Despite the average rent standing at €1,171, Mr Quinlivan believes you’d struggle to find a property at that price, due to a lack of supply.

“A three-bedroom house in Raheen is for rent at €1,400, however 2 bed apartments are advertised for €1,200 per month which is beyond the reach of many.  These rent increases are not sustainable and many working families cannot afford these high rents or find suitable properties to live in. Many working families earn too much to get any social support and too little to get a mortgage, now many can’t even afford to rent,” he added.

Rents in other Irish cities continued to climb – in Dublin, the average rate for tenants was €1,982, up 8.8% year-on-year.

In Cork, the average stood at €1,314, up 11.4%, in Galway, its €1,239, up 13.1%, while in Waterford, the average rate is €968, up 16% annually.