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Need for urgent action as house prices continue to soar - Morgan

30 May, 2006


Sinn Féin spokesperson on Environment Heritage and Local Government today said that there was an urgent need for Government action as figures revealed house prices are continuing to soar. Figures released today by the ESRI and Permanent TSB show that house prices rose by 13.2% in the last year was the direct result of government inaction.

Deputy Morgan said, "In recent years the Government has continued to tell us that house prices are on the verge of slowing down. The figures released today by the ESRI and Permanent TSB demonstrate that such claims are nonsense. House prices are actually escalating. The increase of 13.2% in the last year is the direct result of government inaction. The Government has been telling us for years that house prices rises are on the verge of slowing down and that intervention is unnecessary yet from January to April alone these figures show that house prices have increased by massive 5%.

"The Minister of State with responsibility for Housing, Noel Ahern T.D. must outline as a matter of urgency what action the government will take to address the plight of the increasing numbers of first time buyers who find themselves priced out of the housing market.

"When is the Government going to act to tackle house prices? How bad does it have to get?" ENDS

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