February 16, 2022
Government has lost control of house price inflation – Eoin Ó Broin TD

Sinn Féin spokesperson on Housing Eoin Ó Broin TD has said that the latest CSO figures show that the government has lost control of house price inflation.

The CSO Residential Property Price Index report for December 2021 shows that house prices across the State have risen by over 14.4%.

Teachta Ó Broin said:

“The latest CSO Residential Property Price Index report shows that property prices are continuing to spiral out of control.

“Since December 2020, house prices have increased by 14.4% across the State, with prices in Dublin rising by 12.8% and prices outside Dublin increasing by 15%. The border region continues to experience absurd house price inflation; with prices up 23.7%.

“The government does not have a handle on soaring house prices. House prices are almost at their Celtic Tiger peak – the last time Fianna Fáil was in government. According to the CSO data, the median new build house price for first time buyers across the State is now €360,000. That is scandalous.

“The median new build house price in Dublin for the same cohort is €402,000. In Westmeath, the median new build house price for first time buyers is €445,000, in Kerry its €485,000 and in Kildare its €390,000.

“As a result of government policy, ordinary people on good salaries cannot afford to buy a home.

“Instead of prioritising investment in affordable homes to rent and buy, the government are content with maintaining the status-quo and shouting about supply. The reality is that they will only deliver 400 affordable purchase homes this year.

“Sinn Féin has a plan for housing. We would deliver an average of 8,000 genuinely affordable, good quality homes to rent and to buy per year. Our homes would be available to buy for €230,000 or less. 

“There is a different way to deliver homes, there just needs to be the political will to do so.”

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