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Morgan - Rising housing costs point to Government's inept management of crisis

14 August, 2003


Responding to the latest cost of housing survey by Permanent TSB/ESRI in the 26 Counties Sinn Féin spokesperson on Housing Arthur Morgan TD said:

"While this months figures may only show a marginal increase of just over 1 percent the reality is that average house prices are up by over €30,000 since this time last year which is a year-on-year an increase of over 15%.

"This is completely unacceptable and shows despite all the talk, the reports and the promises that this government has presided over a situation where people if they are lucky enough to be able to buy their home are stretching themselves and their families to breaking point.

"The International Monetary Fund recently said that house prices in Ireland could be overvalued by up to 50%. If this is true then the finger of blame rests not just with the Government's inept performance at managing the housing crisis but also at the lending institutions who have been responsible for fuelling the spiraling cost of houses." ENDS

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