Joe McHugh (Donegal, Fine Gael) | Oireachtas source

Rinne an tAire, an Teachta Coveney, cur síos níos luaithe ar cé chomh tiomanta is atá an Rialtas chun ár ngéarchéim tithíochta a shárú. Téann an ghéarchéim sin i bhfeidhm ar gach cuid den earnáil tithíochta, an earnáil chíosa ina measc. Ní foláir mar sin de go mbeadh ár gcur chuige iomlánaíoch agus bunaithe ar an tuiscint go bhfuil gach cuid den earnáil tithíochta idirspleách agus fite fuaite ina chéile.

Tá costas teach a thógáil ar chíos in Éirinn méadaithe go suntasach ó tosú na hathbheochana thart ar ceithre bhliain ó shin. Níl na leibhéil cíosa fós tagtha ar ais go dtí na Ieibhéil a bhí ann roimh thobchliseadh an gheilleagair, ach i mBaile Atha Cliath tá na Ieibhéil anois blúire níos airde ná an buaicphointe a bhí ann ag deireadh 2007.

It was precisely because of continuing rent increases that the Government introduced a package of rent stability and additional housing supply measures in November. The Residential Tenancies (Amendment) Act 2015, enacted on 4 December 2015, introduced a number of measures to address rent stability and housing supply.

Regarding rent stability, the Act provides, inter alia, that the minimum period between rent reviews for tenancies is being increased from 12 to 24 months and this new provision will apply for a four-year period. In addition, the minimum period of notice of new rent is increased from 28 days to 90 days and longer notice periods for the termination of long-term tenancies have been introduced. Each of these new provisions commenced on enactment.

Further provisions to support rent stability in the 2015 Act include that notice of new rent sent must be in a prescribed form, include details of dispute resolution procedures available through the Residential Tenancies Board and be accompanied by details of rent in respect of three comparable dwellings in the area, and that notification of a rent increase to the RTB will include, among other things, a signed statement by tenants that they are aware of their rights in relation to rent and rent reviews. The extension of the period between rent reviews from 12 to 24 months takes effect from the date of the last review, so if a tenant had a rent review in July 2015, the next rent review will not be until July 2017.

The RTB quarterly rent index, which is compiled by the Economic and Social Research Institute for the Residential Tenancies Board, is the most accurate and authoritative rent report of its kind on the private accommodation sector in Ireland. It is based on new tenancies commenced each quarter and on the actual rents being paid, as distinct from the asking or advertised rent. The most recent RTB rent index for the first quarter of 2016 shows that the rate of rent inflation is cooling, with rents up nationally by 0.5% over the fourth quarter of 2015 and by 0.2% in Dublin. This compares to a national growth rate of 1.6% in the first quarter of 2015, almost 4% in the third quarter and over 2.5% in the second quarter. The data also show that the supply challenge remains acute. The trend in new tenancy registrations is downward, with annual tenancy registrations peaking in 2013 - with nearly 112,000 tenancies registered in that year - but dipping consecutively in 2014 and 2015. Overall numbers of registered tenancies have increased though suggesting that tenants are staying longer in their properties, thereby reducing the normal supply churn.

It is still early days, of course, but there is reasonable cause to believe that these rent data represent the first stage in a welcome stabilisation of the rental market as the new provisions begin to take proper effect. Fundamentally, the increases in rent have been driven by a combination of economic recovery and a lack of supply. The rent stability measures are one side of the equation. Measures to support accelerated supply across all tenures are also critical. In addition to measures already under way under Construction 2020 and the social housing strategy to tackle this issue, the November package included the following measures to further address supply: a targeted development contribution rebate initiative in Dublin and Cork and changes to planning guidelines on apartment standards.

There is no on-off button for the delivery of additional rental accommodation. It will take time for the supply measures in particular to take effect and alleviate some of the pressures.

I welcome the motion and the opportunity for debate. The Minister's bona fides in seeking an adjournment should still stand, and I ask Sinn Féin to consider this and a longer period of time to consider this issue after the recess. I would also like to point out that we have a serious supply problem. We all know this and we all know where the population is going globally - 9 billion by 2030, 65% of whom will be living in urban centres. We will be part of that challenge, and this is the House to debate it. I welcome the announcement of the Minister for Public Expenditure and Reform, Deputy Donohoe, today. Every little bit helps. His was a big intervention today. I also acknowledge the passion, commitment and drive of the Minister for Housing, Planning and Local Government, Deputy Coveney, to try to find a solution, but he will not be doing it on his own. It will be done together with all the stakeholders, and that is not just the people in this House.

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