Terence Flanagan (Dublin North East, Independent) | Oireachtas source

I thank the Ceann Comhairle for the opportunity to raise this topical issue of the need for a cap on rental rates in Dublin. We know that rental prices in Dublin have gone through the roof - they have increased by 35% since 2011 and they are nearly back to their peak levels. The average rent for a three-bedroom house in Dublin is €1,400 per month and in some areas up to €2,000 per month, which is quite a lot of money.

A recent NABCO report found that one in three tenants in Dublin are now worried about the risk of losing their home. Obviously with no limit in place, tenants are very worried about their rights. Landlords are very much in charge and can increase prices almost overnight. More people are obviously being forced to rent because of the new Central Bank rules which put many people out of the market to purchase a property and into the rental property market. For anybody on an average income it is becoming extremely expensive with a very large proportion of a person's income being spent on rent, with wages not having increased in recent years and all the deductions through extra taxes, increases in transport prices as well as rental price increases.

Tenants have been forced out to commuter counties as a result of the high prices in Dublin, which, in turn, is forcing up prices in commuter counties by up to 14.5%. Obviously these unaffordable prices are forcing some families into homelessness. In January, 2,980 adults found themselves homeless at very significant expense to the taxpayer. Last year, Dublin City Council spent €4.5 million to house people in hotel accommodation. It is a matter the Minister needs to address urgently. I ask the Minister of State if she can give some hope to people who find themselves having to rent at the moment that extra supply will come online.

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