Desperation as Wexford’s rental market reaches ‘crazy’ levels

LANDLORDS who operate in Wexford have come under fire after it emerged that two three-bed and semi-detached homes in Wexford had been listed for rent for €1,900 a month, just weeks after they had been bought.

Two homes in the Cluain Dara in Clonard are among the four properties currently available for rent in the city of Wexford. Of the two listed for €1,900, one was recently purchased for around €195,000 in May, which means the rent required is likely to be more than double the monthly cost of a mortgage on the same property.

The other property was listed as “agree to sell” at the end of May for €215,000.

In the rental listings for both properties, proximity to Wexford General Hospital was listed as an advantage, perhaps the owners hoped to attract medical professionals who were unable to obtain private rented accommodation.

Sources within Wexford General recently reported that medical staff had been forced to turn down jobs at the hospital, as a direct result of not being able to find anywhere to rent in the city of Wexford.

Both Daft listings also incorrectly contain the title of the property as Pierce Court, only indicating that the homes are actually in Cluain Dara within the description in the ad.

One of the four other listed property for rent in Wexford, a three-bedroom property in the village of Clonard, is seeking a staggering rent of €700 per week.

The elected representatives are running out of ways to express despair at the current housing situation, and have criticized the listings of these two homes in Kluen Dara.

“A resident from Cluain Dara called me and said both properties were purchased at the same time,” said Tom Ford, a Sinn Féin board member. 1,900 per month.

“There are only four properties available for rent in Wexford. Two of them, it seems, very few will be able to afford. Are these investors happy to leave properties idle if they can’t get these rents?

“Rents seem to me like greed at the end of the day. The average person can’t hope to stand it. People are in desperate situations. If your landlord sells you and you go to Daft or other real estate sites, there isn’t going to give you any light at the end of the tunnel.”

Independent board member Leonard Kelly shared his fellow board member’s concerns.

“The concern is that this rate of €1,900 per month for a three-bed half-bed in Wexford will become the new standard,” he said. “It sounds crazy to me. They say a working couple should not spend more than 30% of their household wages on rent or mortgage. In order to afford these rents, a married couple should make between €80,000 and €90,000 annually. It’s It makes the properties completely out of reach of a large part of the workers.

“Unfortunately, I don’t see things getting better. I don’t see rent pressure areas making any difference, because it didn’t make a difference in places like Juri. I know we can talk about supply and demand, but I think a house like that could have been 800 Euros per month a few years ago.”

While it’s unclear exactly who the owners are in the case of the Cluain Dara properties, there are local concerns that Wexford is becoming fertile ground for investment groups keen to take advantage of soaring rents.

“From anecdotal evidence, I’ve spoken to friends who have sold their homes or who have recently sold their homes and it appears that a lot of real estate is being bought by people who already own five or six homes,” Cllr Forde said. “I know that people are entitled to invest their money as they see fit, but in my opinion, it ultimately tends to affect the most vulnerable.”

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