Fianna Fáil TD for Cork South West Margaret Murphy O’Mahony says government policies aimed at easing the rental crisis are simply not working as prices in Cork continue to increase.
Deputy Murphy O’Mahony was speaking following the publication of the latest Daft report, which found that rents in Cork are rising by 11.5% year on year. In fact, there are now 30% higher than they were in 2008.
“Many people think the rental crisis is an issue which only affects people living in Dublin, but this report reveals that rents in Cork – both the city and the county – are continuing to increase. According to the Daft report, the average rent in Cork county is now €963 per month. This is substantially higher than the 2008 rental peak and is leading to very real affordability issues for people living and working in Cork”, said Deputy Murphy O’Mahony.
“Families are already struggling to cope with rising costs – everything from childcare, transport, insurance and education – and increasing rents are now putting a real strain on stretched households.
“Many are now living from month to month, hoping that they have enough in the bank to cover all the bills. This is deeply unfair. A lot of people have found themselves trapped in the rental market because they do not earn enough to qualify for a mortgage, but are above the threshold for Rebuilding Ireland Home Loan. These are the people who are being squeezed.
“It’s clear that the government’s policies are not working. Fianna Fáil has put forward a range of proposals to deal with rent – these need to be implemented so that an affordable can become a reality rather than an out of reach dream”.