Grey­stones nar­rowly missed cap

Bray People - - NEWS -

GREY­STONES missed out on the rent cap by just 0.2 per cent in one quar­ter pe­riod. ‘As a re­sult, it will take at least six months be­fore it can be con­sid­ered for a cap again, re­gard­less of the level of rent in­creases it ex­pe­ri­ences,’ said Cathaoir­leach of Grey­stones Mu­nic­i­pal Dis­trict, Jen­nifer Whit­more.

Cllr Whit­more crit­i­cised what she called the Gov­ern­ment’s ‘piece­meal’ ap­proach to the im­ple­men­ta­tion of the rent cap, say­ing it will put ten­ants in the Grey­stones area at risk of sig­nif­i­cant rental in­creases in the com­ing months.

Bray, En­niskerry and Wicklow qual­i­fied for the 4 per cent rental cap in­tro­duced at the end of Jan­uary. The cap was ap­plied where rental in­creases of 7 per cent or more were seen in four of the pre­vi­ous six quar­ters.

That fig­ure was 6.8 per cent in quar­ter three of 2015, ac­cord­ing to fig­ures from the RTB.

‘What’s even more dis­con­cert­ing is the fact that the Res­i­den­tial Te­nan­cies Board, the body tasked with im­ple­ment­ing this scheme, has told the So­cial Democrats that there is un­der-re­port­ing of rent in­creases by land­lords. This means that the data upon which the scheme is based is in­cor­rect.’

She said that peo­ple in the area are afraid that they will no longer be able to af­ford their homes.

Ac­cord­ing to the rental price re­port for quar­ter four, 2016, rents rose by 13.5 per cent in County Wicklow. This was in line with the an­nual rate, which Daft said was the largest an­nual in­crease in rents ever recorded in their re­port, which dates back to 2002.

The av­er­age ad­ver­tised rent in County Wicklow is now €1,140, up 48 per cent from its low­est point. At the time of go­ing to press, a three-bed­room prop­erty in Red­ford Park was ad­ver­tised at €1,600.

‘While mea­sures to con­trol rental in­fla­tion may help sit­ting ten­ants, they do lit­tle to ad­dress the un­der­ly­ing is­sue of a lack of sup­ply,’ said Ro­nan Lyons of ‘In­deed, they may hin­der sup­ply, by en­cour­ag­ing the exit of ex­ist­ing land­lords who had not sub­stan­tially in­creased rents in re­cent years. Ad­dress­ing con­struc­tion costs re­mains the best way of ad­dress­ing sup­ply short­ages and the au­dit of build costs re­mains the sin­gle most im­por­tant next step for pol­i­cy­mak­ers, for that rea­son.’

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