Building homes the panacea to rising house prices

18 April 2024

Labour finance spokesperson Ged Nash has urged Fianna Fáil to speed up the delivery of homes.

Deputy Nash said the “new energy” proclaimed by Taoiseach Harris already appears to have petered out, as no new housing measures have been implemented by this new conservative coalition.

Deputy Nash said:

“How many experts are needed to tell the Government what ordinary people already know? House prices are totally out of control, with property prices continuing to rise, by 6.1% in the year to February.

“Affordability is a massive issue for anyone seeking to buy a home. This is economics 101 – there is a supply crisis which continues to hand all the power to those with deep pockets at the expense of hard working people.

“Evidence of reliance on patents for financial support is perpetuating privilege and creating real fissures in society and social mobility.

“The increased supply promised by Housing for All is still not coming on stream in the way in which it is needed, four years after its inception.

“The lack of rent certainty has also meant that the housing market remains an exceptionally attractive option for investors seeking high returns on rent, meaning prices are rising for second hand homes as well as new builds.

“The failure to speed up delivery of social housing, introduce a meaningful affordable rent model of scale, and deliver on rapid build is also exacerbating the situation.”

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