Sinn Féin spokesperson on Housing Eoin Ó Broin TD has said Government must accelerate the delivery of affordable housing, after the latest CSO Property Price Index shows house prices continuing to soar.

The CSO Residential Property Price Index report for February 2022 shows that house prices across the State have risen by 15.3%.

Teachta Ó Broin said:

“The latest CSO Residential Property Price Index report shows that property prices continue to soar across the State.

“Since February 2021, house prices have increased by 15.3% across the State, with prices in Dublin rising by 13.5% and prices outside Dublin increasing by 16.8%.

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 26.9%.

“This unsustainable rise in prices is another symptom of a broken housing system – a housing system that needs fundamental reform, and this government’s housing plan just doesn’t cut it.

“In light of a shrinking rental sector and a rising housing need, including the housing needs of Ukrainian refugees, the government must now accept that its housing plan has been overtaken by ever growing housing need.

“Government must revise upwards its social and affordable housing targets. It also needs to adjust its delivery mechanisms, including a review of the public spending code and the tendering and procurement process for public housing.

“It also must examine is approach to building methods and speed up the adoption of more modern methods of construction that are cheaper, quicker and better for the environment.

“The government must prioritise the delivery of good quality, affordable homes more quickly.

“The only way it can ensure this is done is by taking control of delivery and increasing its public housing output substantially.”