Housing crisis deepens as Daft report shows prices spiral
Housing crisis deepens as Daft report shows prices spiral - The Labour Party
Labour’s Housing Spokesperson Conor Sheehan TD has today responded to the latest Daft.ie housing report, which once again lays bare the extent of Ireland’s worsening housing crisis. The report highlights a 7% gap between listed asking prices and market prices, average prices almost 6% higher than a year ago, and the cost of new builds rising by an astonishing 10% annually. Deputy Sheehan said these figures show how out of reach home ownership has become for ordinary people, and called on Government to take urgent action to make housing affordable.
Deputy Sheehan said:
“The Daft report provides yet another set of numbers behind the crisis we already know too well. The gap between asking and selling prices is now 7% — a sign of the dysfunction in our housing market. For families and first-time buyers, it means even greater uncertainty and an even steeper climb to secure a home.“What is most alarming is the 10% year-on-year increase in the cost of new homes. That is wild. It shows that even as inflation has cooled in the wider economy, housing is bucking the trend and racing away from the reach of ordinary workers. While overall inflation has eased compared to the start of the year, housing inflation remains far above other parts of the economy, leaving workers and young people squeezed harder than ever.“An average increase of almost 6% in house prices compared with this time last year is simply unsustainable. This report is not just about statistics — it’s about people being locked out of secure housing, about families trapped in spiralling rents, and about workers who feel they will never have a place to call their own.
“Reports like this expose the failure of Government to take the choices that could alleviate the housing crisis. Labour has repeatedly set out clear measures: a ramping up of public housing delivery and stricter regulation of the private rental market among others. But this Government lacks the political will. Where is the much-trumpeted housing plan? The Minister said it would be published over the summer, but we still don’t have it. Government keep kicking the can down the road — we need action.
“The crisis in housing is not inevitable. It is the result of political choices. It is time for this Government to finally make the right choice — to invest in public housing, and to bring fairness back to the market. Government must act, and act now, to bring affordable housing within reach of working people across Ireland.”