Dessie Ellis (Dublin North West, Sinn Fein) | Oireachtas source

There has been a significant reduction in the number of landlords offering new tenancies as rental costs have surged. According to the RTB, rental costs for new tenancies have risen by an additional 9% since last year. With the large volume of landlords leaving the rental sector each year, there is an acute shortage of properties for those looking to rent. Not only is it hard to find a place but, if they do, people find they have to spend a large percentage of their income on accommodation costs, with properties in Dublin North-West averaging at up to €2,000 per month.

There is no doubt that Airbnb is having a detrimental impact on the limited available housing stock. The easy profits that can be made from short-term rentals are only going to encourage landlords to move their properties out of the long-term market. There is a consequence of this for the housing market that has been described as the Airbnb effect. It reflects the impact Airbnb has on local housing markets. This is increasingly a cause for concern, particularly in respect of housing stock and house prices.

The growth in Airbnb, both here and abroad, is proving to be damaging for local housing markets. It will result in an increase in the value of an area to the detriment of locals who cannot afford to buy property where they grew up and where their families and communities reside. Locals are being pushed out of their own neighbourhoods due to financial constraints at a time when there is a dire need for affordable housing stock. An increasing number of properties are being advertised for short-term lettings and the number of such properties is far in excess of long-term rentals being advertised.

There is also a concern that many properties are being advertised without proper planning permission or exemptions. The Bill being brought forward this evening by my colleague Deputy Ó Broin will ensure that those entering the short-term letting market are compliant with planning regulations. The Bill will amend section 38 of the Planning and Development Act 2000 and will require estate agents and online platforms to only advertise properties that are compliant with the Act. This is an important step to ensure full compliance with planning regulations and will go towards preventing rogue operators operating in the market.

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