Fianna Fáil General Election Candidate in Dublin North West, Cllr Paul McAuliffe has warned that Dublin rent prices have reached a level that they are now out of reach for most people.
“According to this month’s Dublin Economic Monitor, average residential rents have reached a new peak and now exceed €1,500 per month. This is the first time average rents have broken this barrier since 2007.
Commenting on the data, McAuliffe said, “Every week, more and more people contact me in fear of no longer being able to meet their rental payment or struggling to find somewhere with affordable rent.
“While the Government’s HAP and rent supplement schemes are short term solutions for families in need of housing, there is a knock on effect of increasing average rents in the private rental sector. ”
Unless there is a dramatic increase in the supply of housing those living and working in the Capital will have no alternative but to go back to living with their parents or move further away from their place of work.
“The Government is misleading people with its target of 50,000 new social housing units when only 27,000 of them will actually be new direct build homes. Meanwhile we are still waiting on an affordable rent building project that the Government first announced in 2015.
“The degree of reliance on the private market and the State’s reluctance to build homes in Dublin is costing us all money, money that could for instance build additional new direct build homes.
“Solving the housing problem in the Capital requires more than ambition. We need an increased supply of homes to help push down the cost of rent for ordinary Dubliners,” concluded McAuliffe.