Sinn Féin - On Your Side

Fine Gael Pouring Petrol on Meath Housing Market just nine years after Crash – Tóibín

3 April, 2017

Cathaoirleach of the Meath Housing Campaign and Meath West Sinn Féin TD Peadar Tóibín has said that the Government was pouring petrol on the housing market in Meath just nine years after the catastrophic housing crash.

Deputy Tóibín said:

“House Prices in Meath rose 12.8% in the last twelve months bring the average price of a house in the county up to €238,000.  The Daft report on house prices comes out just two months after another Daft report had shown that rent inflation in Meath was the highest in the state at 17% year on year.

“Housing is a key need of all families, but affordability, either through rent or purchase, is out of reach for regular normal families. This is a crisis of epic proportions as 4,000 people remain on housing lists in Meath, hundreds of families find themselves living with relations or friends, and dozens of families find themselves living in emergency accommodation.

“I attended Trim Court just a fortnight ago and the collateral damage of the last housing crash are still only weaving themselves through the legal system.  

“The Government must suspend the ‘Help to Buy Scheme’. This scheme was always a bad idea.  It is, at its core, a demand side solution to a supply side problem.  It has directly led to the massive hike in house prices we are currently seeing where prices in Meath have become €25,000 less affordable in the last year.

“When it was proposed, with Fianna Fail facilitating it, the Minister agreed to a review after it was introduced. Figures we have obtained through parliamentary questions show that applications already made means that the estimated cost of the scheme could easily be exceeded and worryingly there is no cap on the scheme to prevent it becoming a run-away cost

“Price spikes like this benefit only the hoarders and the banks. This scheme needs to stopped, reviewed, and, in my view, totally abandoned or seriously refined now before even more damage is been done.  We cannot afford to see similar price hikes in the next quarter.”  

Connect with Sinn Féin