Sinn Féin - On Your Side

House Price Boom leaving thousands out in the cold

5 December, 2006

Sinn Féin Housing Spokesperson, West Belfast MLA Fra McCann has said that the housing price boom is freezing thousands of people out of the housing market and leaving many thousands of people in the cold.

Mr McCann said:

"The reality is that the housing price boom is being fuelled by property speculation and the growth of the buy-to-let market. The result is that thousands of people, particularly first time buyers, are being frozen out of the housing market and that many thousands of people are also being left out in the cold.

"These are not benefits being felt by ordinary house owners many of whom are taking on unsustainable mortgages, as witnessed by the ever increasing levels of mortgage repossessions. At the same time the waiting lists for social housing are growing, the cost of private rented accommodation is increasing and homelessness is spiralling out of control with over 20,000 people presenting as homeless.

"Sinn Féin has argued that we need a radical and far reaching shake up of the housing market, including an increased commitment to build and provide social housing, proper regulation of the private rented sector and the activities of property speculators and the creation of a genuine affordability sector that is not solely dependent on co-ownership.

"The onus is on John Semple to ensure that the Housing Review addresses all of these fundamental issues. Sinn Féin will be working with the review team and people from across the housing sector to ensure that this opportunity for change is not lost." ENDS

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