Minister for Training, Skills and Innovation John Halligan T.D. has asked Housing Minister Simon Coveney to re-examine why the new rent pressure zones, limiting annual rent increases to 4%, have not been extended to Waterford.
“I am disappointed – and somewhat surprised – that the Housing Agency, based on data from the Residential Tenancies Board, did not recommend parts of Waterford to be designated as a rent pressure zone”, the Independent Alliance TD commented. “Whilst the scheme is in no way the answer to our rental crisis, it would have at least restricted landlords from making more of the massive rent hikes we have seen in previous years.”
Acknowledging that not all areas in Waterford would have met the criteria of rents being above the national average and annual rent inflation of at least 7per cent for four of the last six quarters, Minister Halligan nonetheless said he believed there were areas in the city where rents are ‘above and beyond this’.
“For instance, rents were 11.2% higher last September than the previous year, the largest annual increase ever recorded by property website Daft.ie”, Minister Halligan added.
“I have asked Minister Coveney to further examine areas of Waterford where rents are rapidly escalating. It is crucial that high rent areas are brought under the new Rental Strategy to protect tenants from unsustainable costs.”