Fianna Fáil General Election candidate, Mary Fitzpatrick has said monthly rent in central Dublin is now more expensive than paying a mortgage, despite the housing sector being expected to reflect the opposite.
The Daft.ie quarterly Report, published today reveals that there were fewer than 1,350 homes available to rent in Dublin, compared to close to 6,700 in the same period of 2009.
She commented, “The cost of rent is now out-of-control and driving people out of their homes and into homelessness – families are losing their homes by not being able to meet €1,000 or less in a mortgage payment so it is categorically impossible that they could rent during the current climate.
“Six years of this Fine Gael Government has resulted in the worst housing and homelessness crises in the history of our area. Their policies have delivered zero affordable homes and are denying families the prospect of buying a home in Dublin Central.
“In fact, their policies are now even denying people the prospect of renting an affordable home. The cost of rent is only going one way.
“Instead of investing in homes they have invested in homelessness and have triggered a level of demand on homeless services that has previously never been seen.
“There is only one meaningful solution to alleviate rental costs and that is to dramatically increase supply,” added Fitzpatrick.
“There are acres of State owned land in the inner city that has been zoned for housing but no progress has been made because of the sheer lack of political will. Developing sites such as O’Devaney Gardens and Dominick Street would go some way towards addressing the crisis.
“There must a major change in approach to deliver affordable homes, co-operative housing and family homes through an accelerated construction programme of affordable homes.
“The introduction of a comprehensive refurbishment programme for all Dublin City Council property to eliminate dampness, mould and overcrowding would return valuable vacant housing stock to productive use.
“There seems to be no end in sight to the rising price of rent in Dublin city. Rising rents, lack of new supply and increasing homelessness indicate only one thing; there is a market failure in housing in Dublin.”