Daithí Doolan, Sinn Féin Leader on Dublin City Council and European election candidate for Dublin, has said that government failure to deliver affordable homes to rent or buy is increasingly becoming a barrier to economic growth, and to businesses recruiting and retaining staff.

Cllr Doolan was responding to today’s survey findings from Dublin Chamber, which show the lack of affordable housing remains the greatest concern for Dublin businesses, and the latest Residential Tenancies Board (RTB) report, which recorded staggering rent increases across the state, the most eye-watering of which are in the capital where new rents are €25,000 a year and existing rents are €21,600 a year.

Cllr Doolan said:

“Today, Dublin Chamber highlighted the damage the housing crisis is having on businesses across the capital. Their data shows that two out of every three Dublin businesses have either lost employees or had prospective employees decline a job offer due to the government’s failure to deliver affordable homes to rent or buy.

“The research also shows that some businesses have been forced to subsidise housing to retain and attract talent in Dublin, showing that the crisis has become both a social and economic catastrophe.

“Over the past 24 months, several Chambers of Commerce have hardened their approach and increased criticism of how the failures of current housing policy is impacting businesses across the State.

“Demand for housing is continuing to far outpace supply. The housing crisis is continuing to get worse and worse with every year that this government remains in office.

“Today’s figures from the Residential Tenancies Board (RTB) show new rents jumped 9% last year and existing rents jumped 6%. There was also a significant drop off in new tenancy registrations, down 31% on the same period the previous year.

“Average new rents in Dublin are now €25,000 a year and existing rents are €21,600 a year in the capital. Across the state, new rents now cost on average €19,000 and existing rents €16,488.

“For over a decade, Sinn Féin has highlighted that the housing crisis was damaging our economic competitiveness, and the survey evidence of Chambers of Commerce, such as Dublin Chamber, and the latest RTB figures, are further evidence of this.

“The impact of the housing crisis on business is not an isolated criticism. In recent times ISME, Chambers Ireland, and the Irish Exporters Association have all highlighted the impact on the economy of a shortage of affordable housing.

“One of the biggest threats to the Irish economy is the continuation of this government and their failing housing policy, and only a change of government, and change of Housing Minister, will truly address the housing crisis for the betterment of society and the economy.

“Only a change of government, with Eoin Ó Broin as Housing Minister, will truly address the housing crisis.

“Voting for Sinn Féin on June 7th in the local and European elections is the first step to getting this disastrous government out of office, and undoing decades of disastrous Fianna Fáil and Fine Gael housing policy.”