Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

I thank the Deputy. It is important he acknowledges that there are people who want to rent and that it is a choice that people want to make because it suits their particular lifestyle. Too often, when we have this debate, speakers do not acknowledge that cohort of people. I am glad the Deputy recognises them.

When I talked about the peaks in 2007 and how we are off the peak in terms of house prices, it is the case that rents are above the peak level of 2007 because of the dramatic shortage we have and the way the housing sector was destroyed in the crash. There is a real affordability challenge around people who are trying to rent and that is why we are trying to progress the cost rental model as quickly as possible.

The rent pressure zones were an affordability measure that was put in place. While it is still very new, from the evidence we have to date, it is working, although we need to review how it has worked and what improvements can be made. In the priority legislation for this term, we are bringing in some changes around rent pressure zones as part of the change management programme for the Residential Tenancies Board, of which we spoke earlier. I am looking at an initiative around working with landlords in an incentive-based way to develop longer-term leases for tenants. I have discussed this with some of my colleagues and am going to progress this with the Minister, Deputy Donohoe, over the coming months. We have the new build-to-rent guidelines that are to encourage more professional landlords and larger landlords, and more investment into the rental sector in order to have a more mature rental market. I and the Minister of State, Deputy English, introduced the change-of-use regulations for units over shops in towns and villages whereby people can now take a vacant commercial premises over the shop and turn it into a home without the need for planning permission. I believe this will be very successful in getting life back into towns and villages but also in terms of providing new accommodation for people who want to rent. We have reformed the repair and leasing scheme and we are expecting a much greater uptake this year as a result of the changes made.

See this speech in context