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Government has no plan to halt rising housing prices - Eoin Ó Broin TD

19 January, 2022 - by Eoin Ó Broin TD

Sinn Féin spokesperson on Housing Eoin Ó Broin TD has said that the latest CSO figures show that this government has no plan to halt rising house prices.

The CSO Residential Property Price Index report for November, shows that house prices across the state have risen by 14% annually.

Teachta Ó Broin said:

"The latest CSO Residential Property Price Index report for November 2021 shows that property prices are continuing to rise.

“Since November 2020 house prices have increased by 14% across the state, with prices in Dublin rising by 12.8% and prices outside Dublin increasing by 15%.  The border region in particular is experiencing incredible house price inflation, with prices up 23.4%.

“This is not normal in a properly functioning housing system. Nor should it be accepted as normal.

“According to the data, the median new build house price for first time buyers across the state is now €350,000. The median new build house price in Dublin for the same cohort is €407,000.  In Cork, the median new build house price for first time buyers is €335,000, in Galway its €332,000 and in Cavan its €265,000.

“Thanks to this government, and the Fianna Fail and Fine Gael led governments of the past, ordinary people on decent salaries cannot afford to buy a home. Instead of investing in affordable homes to rent and buy this government are still letting developers dictate what sort of housing should be built.

“This is the reality of housing delivery in this state. Sites bought and flipped for co-living and build to rent apartments which people have not asked for and which communities do not need. The only entities promoting this kind of development are developers and the current government parties.

“There is another way. Genuinely affordable, good quality homes to rent and to buy can be delivered if the government was willing to invest and ignore the developer lobby. Sinn Féin has a plan that would deliver these homes, on average 8,000 per year.”

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