Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

This situation is one of the reasons the Government and I made the case for investment in the rental sector in the budget last October. Our proposals did not meet with great support across the House. The view seems to be that we do not need investment and we do not need property owners willing to make their properties available for tenants. However, that measure has been legislated for and is now in place. We should not rely entirely on advertised listings in the rental sector. There are some off-market transactions being entered into, which is a reflection of the fact that if a property is advertised on MyHome.ie or Daft, there will be a huge number of people applying. I acknowledge that is the case. We must increase the supply of rental accommodation. We must incentivise and support the protection of the existing investment in the sector and bring new investment into the sector, not just in cities but also in towns, villages and housing estates where there might be one or two rental properties spread around.

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