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Government must take action on rising house prices – Ó Broin

3 October, 2016 - by Eoin Ó Broin TD

Responding to two new quarterly reports on the Irish housing market, which indicate that house asking prices across the state have increased by 3%, Sinn Féin spokesperson on Housing Eoin Ó Broin TD has called on the government to take action to combat rising house prices.

Deputy Ó Broin said:

“The Housing Price quarterly report indicates that from June to September this year the average house asking price was up 2.9% compared to quarter two of 2016. Asking prices are increasing not only in Dublin, but across the state. It has to be asked if the promise of the introduction of a First Time Buyers scheme has contributed to the rising prices. Is there a possibility that developers are now factoring in the costs of the proposed help to buy scheme?

“If this is the case, Minister Coveney must review his plans to bring in tax relief for first time buyers. His focus should be on tackling the issues surrounding access to affordable housing, by focusing on lowering costs not on increasing the debt burden on home buyers. 

“One of the key recommendations of the Dáil Housing and Homeless Committee report tasks the Housing Agency with making an annual audit of private construction costs and comparing these with other jurisdictions. The Housing Agency would look at costs of construction, the cost of financing, the cost of compliance, land costs and other issues that they may deem relevant to bringing down the cost of housing. 

“The Minister must conduct the necessary research and decide on housing policy based on facts. There needs to be research conducted as a matter of urgency on how best to start bringing down the costs of housing as part of a long term solution to the crisis, instead of trying to circumvent central bank rules.” 

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