The increasing number of Ireland’s older renters are “incredibly vulnerable” because their income is not keeping pace with surging rents, a housing expert has warned. 

Rates of home ownership have tumbled in Ireland in recent years, as property prices and rents surge. 

Usually characterised as a problem for the youth, TU Dublin lecturer Lorcan Sirr said there are more older renters than ever. 

“Whereas we used to be 81% home ownership, we’re now about 65% - the same as the US and the UK, which are not really places you want to be,” he explained to The Pat Kenny Show. 

“That’s all very well but you need to subdivide that down; it’s slightly different if you’re a 25 year old and you’re renting. 

“It’s very different if you’re a 65 or a 75 or even older person renting.” 

New homes under construction at Kilcarbery Grange in Dublin. Picture by: Alamy.com.

Dr Sirr added that older renters are “incredibly vulnerable” because their incomes are likely to increase very little, while their rent will likely continue to surge. 

There are also long waits and strict eligibility criteria for social housing. 

“You might have a situation where an older person isn’t entitled to help from the State because they earn that little bit too much, yet still can’t afford to rent,” he said. 

“So, there’s a whole cohort there that are outside the safety net from the State yet are still incredibly vulnerable.

“It’s not just financially vulnerable, it’s also the security of tenure; in other words, the reasons whereby you can be legitimately and legally asked to leave your house. 

“That’s all very well when you’re 25 but it’s not very well when you’re [older].” 

Micheál Martin on a building site. Picture by: Julien Behal Photograph / RollingNews.ie.

Dr Sirr added that as the problem is only likely to get worse, the Government should consider putting together a strategy to help elderly renters. 

“We really need a kind of better emphasis on the increasing number of people out there who are older in the rental sector,” he said. 

“Ultimately, what’s going to happen is the taxpayer is going to put their hand in their pocket to supplement the rent through HAP. 

“That rent will most likely go to overseas funds [who own rental property] to fund retirement homes in Canada and Germany and America.”

According to latest data from Daft.ie, house prices increased a further 12.3% in the space of a year.

Main image: An elderly pensioner holding a purse. Picture by: Alamy.com.