Dr. Michael Byrne:

I am increasingly influenced by the evidence in Ireland and internationally. Essentially, while the reform of the private rental sector, PRS, that has taken place has been in general progressive and important in the Irish context, it is also clear that the structural issues have proved intractable. The impact of increased regulation, some increases in security of tenure and rent regulation has not achieved enough in terms of affordability and residential stability. That is echoed in other jurisdictions. The international evidence suggests that it is the rapid growth of the private rental sector itself that needs to be at least considered. That is the point we are at now because a lot of the other things have been tried, essentially. If we reduce demand for private rental sector housing by increasing the availability of social and cost rental and increasing access to home ownership, that would free up the existing PRS stock for young people living at home, as mentioned by the Deputy in his statement.