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Dessie Ellis TD expresses concern over rising property prices

1 August, 2014 - by Dessie Ellis TD

Sinn Féin Spokesperson on Housing, Dessie Ellis TD, has today expressed his concern over the rapidly rising prices of property.

Responding to a report by the ESRI on the matter, Deputy Ellis said:

“Of course we must welcome the fact that less people are now in negative equity than before, but I am concerned over the alarming rate of rising house prices. We do not want the Irish housing market to revert back to Celtic Tiger levels of property prices, as it would lead to an unsustainable and destined to bust property bubble.

“The housing crisis in this state has been brought about by increasing rents, lack of social housing and a general lack of houses. These are issues that need to be tackled.

“Housing has to be affordable and accessible to people all across this state. We have a situation where homelessness is on the rise, where young people are unable to move away from the family home and where a social housing initiative is severely under-resourced.

“Not too long ago I had a constituent into my office in Dublin North West who told me that they had put a bid on a house only to find out not even a day later that the cost of the house had been put up by €20,000.

“This is a big concern and I am calling on the Housing Minister to immediately address this situation before it gets out of control.”

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