Sinn Féin - On Your Side

Moderation in house price inflation 'no comfort to the locked-out generation' - Eoin Ó Broin TD

25 June, 2019 - by Eoin Ó Broin TD

Sinn Féin Housing spokesperson Eoin Ó Broin TD has commented on the Daft House Price Report for Q2 of 2019.

The report findings indicate that house prices for the quarter were 3.7% higher than in the same period in 2018. 

According to the average house price is now €263,000, while the median price stands at €330,000.

Deputy Ó Broin said:

“While the moderation in the rate of house price inflation is welcome, the median price of a home is still out of reach of those on average incomes.

“There has been a modest increase in supply, but it has taken so long to get to this point that a generation of working people remain locked out of homeownership.

“There is a huge pent up demand for affordable homes which we can see with the demand for the Rebuilding Ireland Home loan scheme.

“For the people today, who cannot afford to buy at the current prices, the government must step up.

“They need to increase the supply of real social housing to free up homes that are currently being subsidised in the private rented sector.

“We need to see significant investment in affordable homes to rent and to buy built on public land. 

“The tax treatment of REITs and other vulture funds must be reformed along with the vacant site levy to help further dampen down prices."

Connect with Sinn Féin