Repossessions put tenants out and rents up, claims Murphy
Anti-austerity campaigner Joe Murphy says Inishowen’s largest town now has a worryingly high number of empty houses, unavailable for rent, leaving many tenants with no option but to look elsewhere or pay higher rents.
Murphy’s concern comes in the same week in which it has emerged that banks, including Ulster Bank, Bank of Ireland, the AIB and Permanent TSB, have sought more than 170 repossession orders against homeowners in Donegal.
“The banks are repossessing these houses but in doing that they are also putting tenants out, which is contributing to a serious housing shortage in Buncrana. That is then in turn driving up rent values because of simple supply and demand economics,” Murphy said.
“I know of a young family who had to move to Clonmany because they couldn’t find anywhere to rent in Buncrana. They had to move their children out of school, which is ridiculous given the number of vacant houses here in the Buncrana area.”
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