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TD calls for Minister for Housing as BOI indicates that prices will continue to rise

26 August, 2003

Sinn Féin spokesperson on Housing Arthur Morgan TD has described as "alarming" a report from the Bank Of Ireland today that claims house prices will continue to rise this year by up to 14% and he called on the Taoiseach to create a position of Minister for Housing. This report he said, "clearly indicates that the government's housing strategy has failed miserably and the profiteering developers are continuing to call the shots".

Deputy Morgan said: "This latest report from the Bank Of Ireland makes for very alarming reading. It gives lie to the Government's bogus claims that they are tackling the housing crisis. That house prices are expected to rise by up to 14% this year clearly indicates that the Government's housing strategy has failed miserably. It also indicates that it is the profiteering property developers who are continuing to call the shots.

"If the Government is really serious about tackling the housing crisis then they need to start by creating a position for a housing minister who has sole responsibility in this area and is not distracted by other issues. The need to realise that they through their actions and inactions are creating a ticking time bomb as people continue to over-stretch themselves with excessive mortgages and are liable to be left exposed if there is even a marginal increase in the rate of the economic downturn.

"We need a strong Minister for Housing who is not afraid to tackle the vested interests, who will put an end to the speculation that has led to the massive hike in costs of development land, and who will work closer with local authorities to ensure that there is adequate provision of social and affordable homes in all local authority areas." ENDS

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