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Ongoing rise in house prices highlights urgent need for state delivery of affordable homes - Eoin Ó Broin TD

27 September, 2021 - by Eoin Ó Broin TD

Sinn Féin Housing spokesperson Eoin Ó Broin TD has commented on the publication of the House Price Report for quarter 3 of this year. The report shows a €24,000 annual rise in house prices, with price inflation at its highest outside the cities at 13%.

Teachta Ó Broin said:

“The latest House Price Report from shows further unsustainable house price increases across the state. House prices are now 9% higher than this time last year. In Dublin City prices are up another 5%, Limerick City just over 8% and Waterford City has shown increases of 6.3%.

“However, the areas where we see greatest price increases is outside the cities in counties including Mayo and Leitrim, where price inflation has risen by 13%.

“Across the state the average cost of buying a home has increased by has increased by €24,000. Unsustainable house price inflation is now a feature of the housing market across the state. For those hoping to escape extortionate Dublin prices, the market is now ahead of them.

“Reckless government demand side policies like Help to Buy and the Shared Equity Loan scheme will inflate prices further unless they are scrapped.

“The only way to tackle rising house prices is for the state to ramp up delivery of non market affordable homes. This way the price can be controlled, and ordinary working people will be able to secure mortgages to buy a home.

“There is just over two weeks until Budget 2022 will be announced. The government must take this opportunity to commit to at least a doubling of capital investment in public housing. The affordable housing targets must be substantially ramped up. 

“This is what Sinn Féin in government would do. We cannot continue to rely on the market alone to supply most of our housing. This dysfunctional housing system can only be fixed by government with the political will to make the changes required.”

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