Sinn Féin spokesperson on Housing, Eoin Ó Broin, has said that aspiring homeowners simply cannot afford another five years of Fianna Fáil in charge of housing.
The candidate for Dublin Mid-West said that Sinn Féin’s housing plan is better for first time buyers. His comments were made as CSO data shows house prices surging by 10% in the last 12 months.
Eoin Ó Broin said:
“First-time buyers simply cannot afford another five years of Fianna Fáil in charge of housing.
“Home ownership, particularly among young aspiring first-time buyers, has collapsed under Fianna Fáil and Fine Gael.
“In 1991, 60% of 25- to 34-year-olds owned their own home. In 2022, the figure had collapsed to just 30%.
“An entire generation of young people are locked out of owning their own home. The reasons are very clear.
“The number of new homes coming on the market for people to buy has flatlined at around 8,000 homes a year from 2018 to 2023.
“The average price of a new home for a first-time buyer has increased by €125,000 in Dublin and €89,110 across the state since Darragh O’Brien has become Minister.
“Statewide, the average price paid for a new home by a first-time buyer is now €430,000 and €528,000 in Dublin.
“As a result, the majority of first-time buyers are purchasing second hand homes, often far away from where they need to live. This is forcing them into long commutes to work with significant financial, emotional and environmental costs.
“Meanwhile, the government has delivered just 988 affordable homes over almost five years. Worse still many of these homes are not affordable, with an average all-in cost of €375,00 statewide and between €400,000 and €550,000 in many Dublin schemes.
“There is nothing in either the Fianna Fáil or Fine Gael housing manifesto’s that will reverse these trends.
“Indeed, many of their proposals will further push up house prices, locking even more young people out of home ownership and forcing them to emigrate.
“Sinn Féin’s housing plan A Home Of Your Own is better for first-time buyers. In government we will deliver 31,500 genuinely affordable homes to buy for first time buyers and others at prices from €250,000 with no hidden equity charge.
“We will also support the private residential development sector to deliver over 140,000 private homes for first time buyers and others over six years.
“As our plan ramps up the delivery of affordable purchase homes and more moderated price private homes to buy, we will phase out those government schemes that push up house prices to further bring down the price of new homes.
“Only by bringing down the price of new homes can we tackle the affordable housing crisis.
“To fix housing we need a change of government. First-time buyers simply cannot afford another five years of Fianna Fáil in charge of housing.
“After five years of failure with record rents, record homelessness, record social housing waiting lists and a collapse in home ownership, Fianna Fáil say they want the housing ministry back? It would be one of the worst outcomes for a whole generation.
“It would be bad for young people, for renters, for those who need social and affordable housing and for those that want to buy their first home. We are so near changing this government. To fix the housing crisis we have to change the government.”
