merrion street

I would like to thank the RTB for producing this latest quarterly index for the second quarter of this year.

In our key employment areas, but particularly in Dublin, rents have reached unsustainable levels. This is precisely why the Government and Oireachtas moved to strengthen rent controls and renter protections in June of this year. I welcome the announcement from the RTB that they are already using their new powers of investigation under these new laws.

Rent controls are now extending to Macroom and to Carlow, also because of the changes we made earlier in the year. Renters in these areas will now benefit from rent controls.

It would appear from the data that new properties coming to the market are contributing to rent inflation. We do need new rental properties and I welcome the more than 3440 new tenancies created since the start of the year. This is an important turn around on what was happening in 2018 when landlords were exiting the market. While it may be pushing rent inflation upwards, new supply will help those in housing insecurity.

I will continue to support the RTB in their efforts to protect tenants while also continuing to drive the increase in rental properties and apartments that is needed in our cities and large towns. With the first Cost Rental site under construction in Dublin, we will now be progressing further sites as quickly as possible.