Continued rent rises trap aspiring homeowners in a rip off rental market

Fianna Fáil Spokesperson on Housing, Planning and Local Government Darragh O’Brien has stated home ownership is under threat due to the continued rental crisis.
Deputy O’Brien was commenting on the latest Daft.ie report that shows further increases in rent levels. The latest Daft.ie report shows that the average monthly rent in the country in the third quarter of this year hit €1,403 - the 14th consecutive quarter of record rents. 
Deputy O’Brien said: “It’s much more expensive to rent than to buy but tenants are struggling to put money away to meet Central Bank rules. The government seems to believe it developing a continental rental model, but its own surveys show renters want to own their own place. Renters want to buy their own place for the certainty and sense of place it gives them.They are being trapped in a rip off rental market.”
 
A March 2019 Department of Public Expenditure survey of renters showed that most people (86%) wanted to own their own home. Respondents cited affordability as the primary reason they could not purchase a home and continued renting.
“Empowering ordinary workers to own their own home is a primary goal for Fianna Fáil. Achieving this means supporting people to purchase and reducing the cost of homes themselves. The central bank should review the fact they do not take rental payments into account when assessing mortgages. The government must also ramp up the supply of affordable homes for purchase,” concluded Deputy O’Brien.