Sinn Féin - On Your Side

Co-ownership is not the solution to housing crisis

1 March, 2006


Sinn Féin housing spokesperson, West Belfast MLA Fra McCann commenting on the changes to co-ownership rules announced today by David Hanson has said that while anything that lessens the burden on first time home buyers that co-ownership is not the solution to housing crisis.

Mr McCann said:

"While anything that lessens the burden on first time home buyers that co-ownership is not the solution to housing crisis. In many circumstances co-ownership can work out more expensive in the long run. It is a false economy.

"Co-ownership is not the solution to the provision of affordable housing or the shortage of social housing. There are no quick fixes or gimmicks. We need a well thought out strategic response to the housing crisis.

"What is required is a review of all housing sectors, and the for example a serious examination of the impact of private developers on the buy-to-let market and the effect on house prices. The reality is that super inflated house prices and the increasing price of land is pricing first time buyers out of the market and squeezing social builders out." ENDS

Connect with Sinn Féin