Sinn Féin - On Your Side

Housing policy run by developers, property speculators and banks - Crowe

31 July, 2006


Reacting to reports from the Bank of Ireland this morning that they are

revising upwards their predictions for house prices to €395,000 across the

state and €532,000 in Dublin, Sinn Féin's Seán Crowe said it showed that

'housing policy in this state is no longer in the hands of the government,

but is controlled by developers, property speculators and the banks.'

The Dublin South-West TD said: "It is clearer than ever that housing policy

in this state is no longer in the hands of the government, but is

controlled by developers, property speculators and the banks. Minister Noel

Ahern has completely abdicated his responsibilities as Minister for

Housing.

"The banks need to accept some responsibility for this increase, with the

100% mortgages being offered playing a central role in accelerating prices

upwards, but speculators buying up property as investments are depriving

young families of the opportunities to buy their homes. This is further

vindication of Sinn Féin's position of a restoration of the Capital Gains

Tax rate of 40% on second properties, increasing incrementally for

subsequent properties.

"The supply of housing also needs to be addressed, with the massive land

banks being hoarded across the state systematically broken up. Last week it

was revealed that only 35% of promised social housing units have been

delivered while developers buy their way out of their Part V commitments to

supply 20% social and affordable housing in new developments.

"This shows who is driving housing policy in Ireland. It is not driven by

need, nor the requirements of the almost 44,000 families on the housing

waiting list. It is driven by the interests of the inhabitants of the tent

at the Galwayraces this week." ENDS

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