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Government's failed Housing policy 'driving house price inflation' - Eoin Ó Broin TD

2 January, 2023 - by Eoin Ó Broin TD

Sinn Féin spokesperson on Housing, Eoin Ó Broin TD, has said that the Government's failed housing policy is "driving house price inflation".

The Dublin Mid-West TDs comments were made as '' released its Q4 house price report showing house prices rose by 6% last year.

Teachta Ó Broin said:

"The latest house price report makes for depressing reading.

"House prices rose by 6% across the state last year. In nine counties the cost of a three bed property increased by double digits, with Roscommon seeing a 25% rise.

"Counties in the Midlands, West and Border Region saw increases ranging from 11% to 19%.

"Average house prices are now €330,000 state wide and €436,000 in Dublin.

"Average prices are now almost eight times average incomes, the highest level since the financial crash.

"The reason is very simple. The Government's failed housing policy is driving house price inflation.

"Minister Darragh O’Brien will not have met any of his affordable housing targets in 2023 and the targets were too low in the first place.

"In many cases what is being delivered is far from affordable.

‘Meanwhile his controversial policies such as the Shared Equity Loan scheme are contributing to house price rises.

"Government needs to urgently revise their affordable housing plans. They must provide Local Authorities and Approved Housing Bodies with increased capital and more ambitious targets.

"They must also strip away the red tape that is slowing down the delivery of much needed affordable homes.

"Short of this, the Government's housing crisis will continue to get worse in 2023."

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