Sinn Féin spokesperson on Housing, Eoin Ó Broin TD, has called for the Government to urgently ban rent increases for all existing and new tenants.

The call was made following the latest Residential Tenancies Board report, which showed new rents increasing by 11.6%, the highest annual increase since RTB records started in 2007, while rents for existing tenants rose by 5% state-wide.

Teachta Ó Broin said:

“Today’s report from the RTB showing massive increases in rents is shocking. Families, workers and young people deserve and need affordable housing and affordable rents.

“Sinn Féin’s proposal to cut rents and freeze them would have prevented these massive increases in rents.

“From Q2 2022 to Q2 2023, new rents have increased by a staggering 11.6%. Average new rents state-wide are now €1574 a month. That’s an additional €2184 a year to rent that last year.

“In Dublin, the increase is even more dramatic in financial terms. While rents are up 10% on Q2 last year that amounts to an annual increase of €2916.

“Twenty counties had rental inflation of over 10% with many in the high teens.

“There has also been a significant increase in rents for existing tenants of 5% state-wide and 5.5% in Dublin.

“This shows that there are clearly issues with some landlord’s compliance with the 2% Rent Pressure Zone cap.

“This is simply unsustainable. Renters cannot keep taking these kinds of rent hikes. They need a break.

“But this government does not care about renters. That much is clear.

“They tell us they are making an impact on housing. Unfortunately, that impact is just putting affordable housing and affordable rents further out of reach for people. No wonder so many young people who cannot afford his level of rents are emigrating.

“Government must urgently introduce a ban on rent increases for existing and new tenancy. They must also put a full month’s rent back in every private renter’s pocket.

“Government also needs to increase and accelerate the delivery of social and affordable homes, including cost rental homes, so that renters are not left at the mercy of an expensive and insecure private rental sector.

“The longer Fianna Fáil and Fine Gael are in government the worse things get. Nowhere has this been more evident than from this report that shows massive rent increases over the last 12 months.”