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Adams expresses concern at continued rise of rents in Louth

Adams expresses concern at continued rise of rents in Louth

Local TD Gerry Adams has expressed his concern at what he has described as “the continuing high rise in rents in Louth.”

Earlier this week the Residential Tenancies Board’s report for Q1 2018 showed that rents for the Wee County had risen by 9.3% or €82 in the last year to a current standardized average of €966.

The quarterly increase of 2.9% was also the second largest percentage increase in the State after Kerry.

The RTB report follows on from other similar reports suggesting that rents in Louth are rising dramatically and Adams said the report paints a “bleak picture” of the direction in which prices are going.

He said: “In the three years since the first quarter in 2015 the standardised average rent in Louth has jumped from €700 to €966 in the first quarter of this year. This means that Louth is the sixth most expensive county in the state for rents, and this despite the fact that Drogheda is in a rent control zone.

“The reality is that under this government average rents have soared to a new record high. Rents are rising while supply remains at an all-time low. The introduction of rent pressure zones was supposed to restrain rents and limit annual increases.

“This lacklustre attempt at cooling the rental market is not working. It is creating a two tier rental sector and struggling renters are caught in the middle. That is what the government, with the support of Fianna Fáil, has delivered.

“The cross party Dáil housing and homeless committee recommended real rent certainty, linking rents to an index such as the Consumer Pay Index. The government rejected this.

“This Fine Gael led government is placing the interests of landlords above those of renters and is failing to introduce the strategies needed to build new social and affordable homes.”

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