10 February 2022
By Elaine Murphy
Rent rises from last year compound cost of living crisis – Pat Buckley TD
Pat Buckley, the Sinn Féin representative for Cork East has commented on the latest rental report from Daft.ie, which shows that rents are continuing to rise across the State, with renters facing increases of 9.9% in County Cork at the end of 2021.
The average monthly asking rent in the last three months of 2021 in County Cork was €1,217.
Deputy Buckley said:
“The Daft.ie rental report for the last three months of 2021 shows that the average asking rent in County Cork is up 9.9%
“The report shows 19 counties had double digit rent inflation. Rents are continuing to soar here in County Cork.
“This is a phenomenal increase and is a massive additional cost for workers and families to bear; on top of rapid increases in household bills.
“This latest Daft.ie report makes it clear that there is little or zero affordable rental supply in most parts of the State.
“The ban on local councils buying homes with HAP or RAS tenants in-situ where the landlord is selling up is also forcing families into homelessness while the properties are being sold to investment funds, who lease these same properties back to local authorities. This makes no social or economic sense.
“The government’s 2% rent cap is clearly not working. We need a ban on rent increases on all existing and new tenancies, and we need government to put money back in renters’ pockets through a refundable tax credit worth a month’s rent.
“Government must also accept that their social and affordable rental targets for 2022 are not sufficient and must be revised.”