'Offaly rent price hikes are alarming' - Nolan
Independent Offaly TD Carol Nolan has responded to the latest house rental increases in the Midlands describing the hikes as “alarming."
Speaking this morning from Leinster House the Deputy was responding to the publication of the Daft.ie Rental Price Report, which records trends in the rental market across the country to the end of June 2018.
The report shows an increase of 13.8% to €604/mth for a one-bed apartment in Offaly and a whopping 16.% increase to €990/mth for a five-bed house .
Deputy Nolan responded by saying that, “the figures for Offaly and some other Midlands counties are particularly alarming, and it is a reflection of a simple economic force of lack of supply versus demand."
The Daft Report indicates an overall annual increase of 12.8 % in rent prices in Offaly compared to 5.7% in Roscommon and 10.2% in Galway. The average cost of rent in Offaly is now €845 per month compared to €642 in Roscommon.
"This represents a shortfall of €200 per month, or €2400 per year, for other living expenses that falls on households in Offaly compared to those in a bordering county," Nolan said.
Deputy Nolan commented further on the lack of housing stock in the county. “It is evident that Government interventions on rent control are having little impact on the escalation of rental costs. The solution is simple, we need shovels in the ground and more house building. We need affordable homes for purchase; Local Authority owned Social Housing and short-term rental accommodation for transient workers, students and tourists."
"The strain on families is enormous and indeed the effort of Local Authorities to source and supply accommodation is collapsing. The over-reliance on a limited stock of housing is not sustainable. I will continue my efforts to put pressure on this Government to deliver on housing solutions," Carol concluded.