November 25, 2021
Government ignoring clear warnings that shared equity loan scheme will push up house prices – Pearse Doherty TD

Sinn Féin spokesperson on Finance, Pearse Doherty TD, has criticised the government for recklessly ignoring clear warnings that its shared equity loan scheme will push up house prices to the detriment of struggling home buyers.

This comes as the Central Bank today warned that the scheme could increase house prices while doing little to stimulate construction where it was needed.

Speaking this afternoon, Teachta Doherty said:

“Today the Central Bank gave a loud and clear warning that Darragh O’Brien’s shared equity loan scheme could pump up house prices even further.

“This comes after the ESRI, the Department of Housing and Secretary General of the Public Expenditure all also warned that it will push up prices.

“Despite the warnings, despite the evidence, this government is ploughing ahead with a scheme that will push home ownership further out of reach for the majority of struggling buyers.

“In research published today, the Central Bank warned that the scheme could increase house prices with little impact on the construction of new homes.

“This government is ignoring the evidence and pushing on regardless. Why?

“This scheme was designed and lobbied by property developers.

“It is a scheme that will boost their profit margins and dividends to shareholders, while locking in high prices for aspiring homeowners.

“How can the public trust the government to resolve the housing crisis they created by introducing such hare-brained schemes?

“House prices have increased by 82 percent in the past decade.

“This government wants to push prices even higher.” 

Follow us online

Latest Tweets

Share Your Story – Accessible Education for all.

Is your child at risk of missing out on a school place this year, or has this already impacted your family?

Next week in the Dáil, Sinn Féin will introduce a motion demanding educational equality!

#AccessibleEducation4all

Waiting times will not improve without a real plan for hospital overcrowding – @davidcullinane

"The Minister for Health must outline an immediate response to emergency department overcrowding."

Simon Harris’ innocent bystander routine on public waste fools nobody - @Farrell_Mairead

"The Tánaiste is apparently very cross about this. Just like he was cross on all those other occasions."

Load More

Statements