{"id":1739,"date":"2021-12-07T10:34:22","date_gmt":"2021-12-07T10:34:22","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/e52000-house-deposits-are-utterly-unaffordable\/"},"modified":"2021-12-07T10:34:22","modified_gmt":"2021-12-07T10:34:22","slug":"e52000-house-deposits-are-utterly-unaffordable","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/e52000-house-deposits-are-utterly-unaffordable\/","title":{"rendered":"\u20ac52,000 House Deposits Are Utterly Unaffordable"},"content":{"rendered":"<p><em><strong>How can anyone on an average income afford to save \u20ac52,000?<\/strong><\/em><\/p>\n<p>News that the median deposit for first-time buyers is now \u20ac52,000 is further evidence of how unaffordable housing has become, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan.<\/p>\n<p>Deputy O\u2019Callaghan was commenting after new figures from the Banking and Payments Federation found the median deposit for first-time buyers exceeded \u20ac52,000 in the first half of 2021.<\/p>\n<p>\u201cToday\u2019s figures, which show that the median deposit for first-time buyers is \u20ac52,000, is further evidence that the Government\u2019s housing plans are failing.\u201d<\/p>\n<p>\u201cAn entire generation has been locked out of the market. Average deposits are now more than double what they were just 10 years ago. How can anyone on an average income afford to save \u20ac52,000? Homeownership is simply slipping out of reach for many young people.<\/p>\n<p>\u201cThe pressure to save vast sums of money, while also paying incredibly high rents, is putting people under huge stress and strain.\u00a0It is therefore unsurprising that four in ten first-time buyers are reliant on gifts from parents in order to fund the purchase of a home.<\/p>\n<p>\u201cHouse prices have shot up by over 12pc in a year. This is unsustainable. The housing market is out of control and there is no evidence that the Government\u2019s housing plan is working. In fact, things are getting worse instead of better.<\/p>\n<p>\u201cThe solution to this crisis is crystal clear \u2013 the State must build thousands of homes that are genuinely affordable. This can be done by using public land. To date, this has not been done anywhere near the scale that is required. We need 10,000 affordable homes to be built each year.\u201d<\/p>\n<p>7 December, 2021<\/p>\n<p>Ends<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How can anyone on an average income afford to save \u20ac52,000? News that the median deposit for first-time buyers is now \u20ac52,000 is further evidence of how unaffordable housing has become, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan. Deputy O\u2019Callaghan was commenting after new figures from the Banking and Payments Federation found the median [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,10,7],"tags":[],"class_list":["post-1739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cian-ocallaghan","category-housing-crisis","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u20ac52,000 House Deposits Are Utterly Unaffordable - Social Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.socialdemocrats.ie\/e52000-house-deposits-are-utterly-unaffordable\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u20ac52,000 House Deposits Are Utterly Unaffordable - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"How can anyone on an average income afford to save \u20ac52,000? News that the median deposit for first-time buyers is now \u20ac52,000 is further evidence of how unaffordable housing has become, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan. 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