Sinn Féin spokesperson on Housing, Eoin Ó Broin TD, has said that government housing policy is pushing up house prices.
His comments were made in response to the latest MyHome.ie house price report, which shows that house prices rose by over 8% last year and that average borrowings, debt to income ratios and age of first time buyers are also all rising.
Teachta Ó Broin said:
“Today’s MyHome.ie report is the third report in recent weeks confirming that house prices are rising at an accelerated pace, and that such rises will continue into 2025 and beyond.
“The report is also concerning as it highlights the rising average bowering and that both the average age of first time buyers and loan to income ratio here is higher than in Britain.
“What this means is that there is a growing cohort of working people who are locked out of home ownership while many of those who are buying are at increasing risk of mortgage default if their economic circumstances change.
“The fact of the matter is that government housing policy is pushing up house prices. Fianna Fáil and Fine Gael are directly responsible for the housing crisis.
“Failte to deliver a sufficient volume of social housing puts pressure on the private rental sector. Failure to provide a sufficient volume of affordable housing puts pressure on the private purchase market.
“Meanwhile, demand side subsidies like so-called Help to Buy and the controversial First Home scheme push up house prices, while the government is doing nothing to help the SME builder developer sector increase supply.
“Sinn Féin’s alternative housing plan, A Home Of Your Own, and the Housing Commission’s report provide a plethora of solutions to address these issues. It is possible to increase supply and deliver affordability, while reducing homelessness and council waiting lists.
“But without the radical reset of housing policy as proposed by Sinn Féin and the Housing Commission house prices will continue to rise, rents will continue to rise, council waiting lists will get longer and more people will end up in homeless emergency accommodation.”
