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House prices surge close to Celtic Tiger peak - Eoin Ó Broin TD

16 May, 2022 - by Eoin Ó Broin TD

Sinn Féin spokesperson on Housing Eoin Ó Broin TD has said Government must prioritise the delivery of genuinely affordable homes to buy and revise upwards its delivery targets as the latest CSO Property Price Index shows that house prices are continuing to soar.

The CSO Residential Property Price Index report for March 2022 shows that house prices across the State have risen by 15.2% annually.

Teachta Ó Broin said:

"The latest CSO Residential Property Price Index report shows that property prices are continuing to rise across the State.

“Since March 2021, house prices have increased by 15.2% across the State, with prices in Dublin rising by 12.7% and prices outside Dublin increasing by 17.3%.

“According to the CSO data, the median new build house price for first time buyers across the State is now €335,000.

“The border regions continue to experience increasing house price inflation, with prices up 25.1%.

“Housing affordability has gotten worse since Fianna Fáil got back into power. The Minister for Housing has failed to grasp this as thousands of ordinary people struggle to secure an affordable home.

“As a solution he offers another mad developer lead scheme which will just lock in high prices and provides no affordability dividend for the purchaser.

“The government must revise upwards its affordable housing targets. The targets published last week were too unambitious and too low.

“The private market will not deliver affordable homes for the vast majority of people and it is time for the state to ramp up its direct delivery of new homes."

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