House prices continue to rise as Government fails to invest in affordable housing - Eoin Ó Broin TD
Sinn Féin spokesperson on Housing Eoin Ó Broin TD has commented on the publication of the latest Daft.ie House Price Report and research from MyHome.ie.
Both reports highlight how house prices are continuing to spiral out of control.
Teachta Ó Broin said:
“The latest Daft.ie House Price Report shows further unsustainable house price increases across the state. House prices are now 8.4% higher than this time last year, with the average asking price at €299,093 across the state.
“According to the report, we have now witnessed seven straight quarters of house price inflation.
“In Dublin, Cork and Galway City, prices are up approximately 4%. While, in the cities of Limerick and Waterford prices have risen by 7.6% and 9.3% respectively.
“However, the areas where we see greatest price increases are outside the cities in counties including Mayo and Leitrim, where price inflation has risen by an incredible 22% and 26% respectively.
“Staggering house price inflation is now a feature of the housing market across the state.
“A research report published by MyHome.ie paints an equally worrying picture. This report has house price inflation running at 12.3%, with the median asking price for a home across the state now at €295,000.
“The government has failed to get to grips with the crisis and has shamefully extended and introduced policies like Help to Buy and the Shared Equity Loan scheme will inflate prices further.
“The government is continuing to over rely on private investors and developers to deliver homes, which will never be truly affordable for the majority of ordinary people.
“It must first of all accept this fact. Then it must revise its affordable home targets upwards to at least 8,000 homes per year.
“A Sinn Féin-led government would prioritise investment in public housing, which would be genuinely affordable, to meet the growing housing need across the state.”