Rents up almost 21% in Cavan

An eye-watering 20.9% annual rent increase in Cavan shows, local Sinn Féin TD Pauline Tully says, that the government has no plan for a private rental sector, she claims is “spiralling out of control”.

Her comments come shortly after the Residential Tenancies Board published their Rent Report for the final quarter of 2023. It found new rents in Co Cavan were up by 20.9%, while existing rents increased by 13.5% in the period.

“The latest RTB rent report shows a private rental sector continuing to spiral out of control,” said the Cavan-Monaghan representative.

Average new rents in Cavan are now €1,113 per month, while existing rents are €843pm, the report found.

“For renters, this means rents continue to spiral out of control while supply continues to contract,” said Deputy Tully.

“How are regular working people in Cavan expected to afford these rents? How are they to save for a deposit to buy a home?

“Month on month, year on year, rents continue to rise for new and existing tenants and inside and outside rent pressure zones.

“It is clear that the government has no plan for a private rental sector spiralling out of control. Their renters tax credit is simply not enough. We need an emergency ban on rent increases for three years and a full month’s rent back in every private renter’s pocket,” she concluded.