Richard Boyd Barrett Challenges Minister Over Rent Hikes

Minister, you've introduced legislation that's going to allow landlords to reset rents upwards, unbelievably, when rents are already unaffordable for the vast majority of people, and we have an unprecedented homelessness crisis. Have you any plans whatsoever to make rents affordable in the private rental sector? Or are you just admitting now this is a government that is about increasing rents in order to benefit landlords? Who profit from the housing misery that results from these unaffordable rents? Minister. Thank you very much. Affordability very much is at the heart of the Government's housing policy, as embodied within the new housing plan, delivering homes and building communities 2025 to 2030, which the Government is targeting the delivery of 300,000 new homes by 2030, including 72,000 social homes and 90,000 affordable supports. The plan reinforces and expands the range of existing measures being implemented by Government to tackle the issues of supply and affordability, thereby supporting the increased provision of new homes to purchase and rent. Further Government measures introduced to support renters include the increase in the tax credit for renters under the Budget 2025, to a maximum of €1,000 for each renter in a household. Budget 2026 extends the rent tax credit, which was due to expire at the end of 2025 for a further three years to the end of 2028, and the Program for Government commits to extending it. Record levels of social and affordable housing delivery has been achieved in recent years, with preliminary 2025 figures indicating further record levels of delivery, and in providing substantial funding to local authorities, the Land Development Agency, and to approved housing bodies to support increased delivery, the National Development Plan has committed record levels of funding for new social and affordable housing, totaling almost €20 billion. Since the launch of cost rental in 2021, around €2.25 billion in Exchequer funding has been approved for cost rental projects, and beyond my department, very significant loan funding is also being provided from the State's Housing Finance Agency, and the lowering of VAT on new apartments to 9% under Budget 2026, which will also assist in delivery of new homes into the cost rental sector at lower costs. The Residential Tenancy Miscellaneous Provisions Act of 2026 came into effect on 1st of March, 2026, introducing a new national rent control for all tenancies, which limits rent increases to inflation, as measured by the consumer price index, up to a maximum of 2% for new built apartments, and student-specific accommodation, however, rent increases are capped at the level of inflation and CPI only. These changes were introduced to promote greater investment in the rental market, to increase the supply of rental properties. Deputy Boyd Barron. Yeah, that's all just meaningless drivel for the people out there looking for affordable rent. It's unbelievable. Average incomes in this country are €55,000 to €60,000. Many, if not most, people earn less than that, but average incomes are €55,000. That means take-home pay is €3,300 to €3,600 a month after tax. If you're looking for a three-bedroom apartment in Dun Laoghaire, you will not find anything below €3,000 today. Most of them are €4,500. I'll just read out a few in my area. €3,800, €3,050, €3,650. More than a hundred percent of the take-home income of the average worker for the rents that are being looked for today. One family, Suzanne, who's overcrowded currently in a two-bed, is looking for a three-bed. She's paying €1,700, and that's what's available for her and her two kids. She's going to end up homeless or stay overcrowded, as are many people. It's an impossible situation, and you've got nothing to say to people. Nothing at all. Thank you very much, last count Corley. We do have a lot to say to people, and we have already delivered a record number of homes last year. In terms of, since Housing for All came in, we delivered 36,000 homes last year. And we have provided tax breaks for renters as well. But we know the only way that we can address the homeless crisis, the rent crisis, and the housing crisis, is through increasing the supply. We can't classify the current situation forever. And I know it's popular to say that you want to have an eviction ban and you want to have freeze rents. But they're just going to exacerbate the situation. As the population increases and increases, as a result of the country, you know, more and more people coming in, which is fantastic. I mean, the diversity is wonderful for our country. But we have to drive the supply. And the state can't provide all homes to deliver that. Young working people looking for accommodation are goosed with this government. Your own, if supply is the answer, your own Department of Finance, I'm on the Budget Scrutiny Committee, right? They told us in the Future 40 report, they are projecting that the supply will not reach the level where it is possible, theoretically, that prices could come down until the end of the 2030s. Right? The end of the 2030s. So we're stuck. So Suzanne, who's looking to get from an overcrowded situation, and is facing those rents, she's goosed until the end of the 2030s. Or, another couple I'm dealing with, with two kids, got an NTQ, are now living with neighbours, a notice to quit, now living with neighbours, they've got to wait until the 2030s, the end of the 2030s. I mean, you can't actually control rents, they do it in other countries. Why won't you control rents? Why do you allow rents to reach these unaffordable levels? Why do you allow people to be evicted? Why do you allow landlords to reset rents up to the highest levels, when there is nowhere that can be afforded by average working people looking for a roof over their head? Minister. Thank you again. Thank you very much, Deputy. But look, Deputy, short-term protectionism is only exacerbating. I want to give people hope. We delivered over 36,000 new homes last year. That's the highest number of homes since Housing for All came in. We delivered an awful lot more homes 20 years ago. And what we did was, we brought in, in my view, the kind of protectionism we brought in, has undermined the supply of those homes. We need to get back to delivering at least 50,000 homes a year. Like, 20 years ago, there was, at one stage, 90,000. And I think those numbers were questionable. And that's why we now rely on CSO data, because I think there was, you know, but there was still significantly more than we were delivering now. And we need to ensure that we have that framework, deliver the supply of homes that people need right across the country. I think we're in a housing crisis. First to admit it. But the only way we get out of it is through supply, not through more and more protectionism. So, what if I take care of longerayım is through supply of homes, which I take care of to be recognized as sources of a foragers.