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Continued rise in house prices a result of government inaction - Morgan

29 July, 2003

Commenting on the publication of the latest Permanent TSB house price index which has shown that house prices in the State have increased by an average of 6.9% in the first six months of this year, Sinn Féin spokesperson on Housing Arthur Morgan T.D. blamed government inaction for the continuing rise.

Deputy Morgan said

"Government inaction in the face of ever increasing house prices is highly irresponsible. Houses are becoming more and more unaffordable. Minister of State Noel Ahern must explain why at a time of economic slowdown, house price increases are greater than for the same period last year.

"The ongoing housing crisis will have enumerable consequences for Irish society in the years ahead. The government has not shown any initiative to control the spiralling cost of houses. Measures must be taken to control land prices which are the greatest contributor to the price of houses. A national housing agency must be established as a matter of urgency. We need to see a strategy from the government outlining how they intend to tackle this crisis" ENDS

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