Government housing strategy continues to lock people out of home ownership
Labour housing spokesperson Rebecca Moynihan has called on government to deliver more affordable cost rental properties for people squeezed by the housing market. With residential property prices growing by 14.8% in the year to January, Senator Moynihan said the lack of urgency from the Minister to redress the imbalance in the market is deeply concerning.
Senator Moynihan said:
“The nationwide housing crisis continued to grow during the depths of the pandemic, with figures published by the CSO showing property prices growing by 14.8% in the year. The market extremes have locked out an entire generation of people from home ownership and it’s past time for government to intervene.
“The problem in the capital is well documented, but I am seriously concerned to see apartment prices rise by 11.8%. This is having the effect of locking single people out of the market without having any realistic hope of ever owning their own home. I have long highlighted the uphill battle faced by single people, young workers and those looking to get on the property ladder in this city. Unfortunately for many this is but a pipe dream.
“We are also seeing how the pandemic has changed the type of housing needed throughout the country. While the forthcoming census will provide exact detail, the data provided by the CSO points to the need to increase housing stock outside of the cities. Prices have risen by 16% outside of Dublin as people have opted to leave the city in search of a better work life balance. However, wages have simply not kept pace with the demands of the market.
“We in the Labour Party firmly believe that the State should be the lead provider of housing. We need to see government scale up the measures in Housing for All with a particular focus on the cost rental model.
“These figures point to a government entirely out of touch and without a clear vision for the types of cities, towns and villages we should be building. We need leadership and a fresh approach when it comes to housing.”