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Morgan accuses Government of facilitating house price increases

20 June, 2006

Sinn Féin Housing spokesperson Arthur Morgan TD has accused the government of facilitating increase in house prices after it was revealed today that the average price of houses has increased by 15% each year for the last decade.

Speaking today Deputy Morgan said, "The Fianna Fáil -- Progressive Democrat Government must take the responsibility for facilitating the increase in the price of housing. Their cosy relationship with property developers and speculators has made a significant contribution to the price of houses today. They must introduce measures to stop speculators buying up massive land banks and driving up house prices.

"The failure to seriously tackle the social housing waiting list, which now stands at just under 44,000 families, has also contributed enormously to obscene prices. The rent supplement is no longer the stop-gap measure it was intended to be but has now become a major contributor to the mortgages of many landlords. This has not gone unnoticed by the developers who have pushed prices up safe in the knowledge that the Government is helping to finance the 'buy to let' market. It is no coincidence that over one in every three private rented properties are financed by rent supplement and over €400,000,000 is being paid into that sector by the Government each year. This is a damning indictment of the Government's failure to eliminate the social housing waiting list and is yet another huge waste of tax-payers money by this Government." ENDS

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