12 May 2022
By Mary Bermingham
Sinn Féin TD for Cork East Pat Buckley has commented on the latest rental report from Daft.ie which shows that rents are continuing to rise to worrying levels in Cork East.
Renters faced average rent increases of 3.4% in Cork County in the first three months of 2022, compared to the same period last year. The average monthly asking rent in the first three months of 2022 was €1,258.
Teachta Buckley said:
“The latest Daft.ie rental report for the first three months of 2022 shows that the average asking rent is up 10.8% in Cork County compared to this time last year.
“This is a crisis. These shocking rent increases are not accompanied by similar hikes in wages and with the cost of living through the roof, people will struggle to meet these rises.
“People on ordinary incomes are struggling to pay the cost of their rent and are under huge financial pressure. Far too many workers and families here in East Cork are worrying every day about how they will pay their rent. This should not be happening.
“Clearly the 2% cap in rent pressure zones isn’t working, while those living outside rent pressure zones are feeling the full force of the market rises. The government must stand up for renters here in Cork East and ensure that rents are cut drastically, so that they are at levels that are affordable for people on ordinary incomes.
“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 we need to see affordable cost rental delivered at scale. At least 4,000 units per year to meet affordable rental demand.”