‘Just no break’ for Cork renters amid significant increase in rent prices
A Cork TD has slammed the large increases in rent being paid by Cork renters, describing the housing situation for renters as “a constant worry”.
A Cork TD has slammed the large increases in rent being paid by Cork renters, describing the housing situation for renters as “a constant worry”.
Sinn Féin TD Thomas Gould said that there is “just no break” for those renting in Cork as rents continue to rise significantly.
“We’re now looking at the highest rents ever in the history of people renting in Cork,” he said.
“What it means is that it is a much higher proportion of a person’s income than it should be.
“When it comes to your rent, there should be about 33% of your net income but now a lot of people are easily paying 50% and in some cases, even more.
“What we’re seeing is people who can’t afford to rent having to return to parents or grandparents and you see loads more people house sharing and it’s not because they want to do it, they just have no choice because the rents are so high."
His comments come as the recently published Central Statistics Office’s (CSO) Census 2022 Profile 2 – Housing in Ireland report showed that renters in Cork have continued to face large increases in the amount of rent they pay since 2016.
The latest data shows the average weekly rent paid to a private landlord in Cork in April 2022 was €252, which was a 40% increase on 2016.
The average weekly rent paid to a private landlord at a national level rose to €273, up €73 (37%).
This was more than double the rate of increase (17%) between 2011 and 2016.
“The big consequence of the rent increases is the quality of life people have because so much of their disposable income goes on rent. It affects everything whether it’s socialising, entertainment, holidays, education, even going to doctors,” Deputy Gould said.
“What it means is that people are constantly under pressure and it’s a constant worry for them.
He highlighted that in many cases mortgage repayments are less than the cost of rent.
“Before, you could rent and you could save at the same time then for a deposit for a mortgage but now rents are higher.
“You get a mortgage now for a house cheaper than what you can rent it for. That can’t make sense.”
The report also showed that in Cork the number of homes rented in the 65 and over age group was 2,069, a 71% increase, which Labour Party Rep Peter Horgan described as “a staggering increase”.
“What’s more, average rents have risen by 40% in that same period in Cork,” he said.
"There was a time when a single-income family could reasonably expect to be able to purchase a home and pay off a mortgage before retirement.
“Our social security system and our system of care for older people is predicated on the assumption that older people will own their own home. Already, so many people – young and old – are suffering due to the broken private rented sector and the lack of housing supply.
"The direction of travel which is indicated by these new Census figures would indicate that the Government is in possession of a ticking time bomb.” He raised concerns about the “harrowing reality for renters”, saying the government has “got it wrong”.
“Lifting the temporary no-fault eviction ban and kite-flying more Budget measures for landlords, without corresponding measures for renters, show a cynicism from the Government and an attempt to rally support in the run-up to next year’s elections. They have got it wrong,” he said.
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