BY AN AV­ER­AGE OF €46 PER MONTH IN SIN­GLE YEAR

Wexford People - - NEWS -

County Wex­ford also recorded a 2.5 per cent share of over­all new ten­an­cies for the third quar­ter of 2018.

The re­port stated that rents are now at a record high across the coun­try and there is un­prece­dented de­mand within the sec­tor, how­ever, the num­ber of land­lords is fall­ing with a de­cline of 8,829 ten­an­cies and 1,778 fewer land­lords than there were three years ago.

The Di­rec­tor of the RTB, Ros­alind Car­roll, said af­ford­abil­ity still re­mains an is­sue for the rental mar­ket with in­creas­ing de­mand aris­ing from eco­nomic, em­ploy­ment and pop­u­la­tion growth.

‘The rate of rent in­fla­tion slowed this quar­ter some­what, which we will con­tinue to mon­i­tor in the months ahead,’ said Ms Car­roll.

‘The im­por­tance of strong pro­tec­tions for ten­ants is un­der­lined by the fact that the pace of rent in­crease un­der ex­ist­ing ten­an­cies is well be­hind that of new ten­an­cies which shows us that Rent Pres­sure Zones are work­ing much bet­ter within ex­ist­ing ten­an­cies,’ she added.

How­ever, Ms Car­roll added that a de­crease in the num­ber of land­lords is an is­sue of con­cern and com­mented: ‘If we are to meet de­mand and en­sure a well-func­tion­ing rental sec­tor then we need more land­lords, and dif­fer­ent types of land­lords, to of­fer mar­ket op­tions.’

She said that land­lords leav­ing [the sec­tor] is in­creas­ing strain and pres­sure on the mar­ket.

Ms Car­roll also high­lighted that new leg­is­la­tion due to come into ef­fect in 2019 will equip the RTB with suf­fi­cient powers to in­ves­ti­gate and ap­ply sanc­tions where there are con­tra­ven­tions of rent re­stric­tions in rent pres­sure zones.

She also em­pha­sised a need to be able to im­ple­ment such powers ef­fec­tively.

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