{"id":1746,"date":"2021-12-15T12:42:03","date_gmt":"2021-12-15T12:42:03","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/cso-figures-show-house-prices-spiralling-out-of-control\/"},"modified":"2021-12-15T12:42:03","modified_gmt":"2021-12-15T12:42:03","slug":"cso-figures-show-house-prices-spiralling-out-of-control","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/cso-figures-show-house-prices-spiralling-out-of-control\/","title":{"rendered":"CSO Figures Show House Prices Spiralling Out of Control"},"content":{"rendered":"<p><em><strong>Ordinary workers can no longer aspire to own their own home<\/strong><\/em><\/p>\n<p>New figures from the CSO show that house prices are spiralling out of the reach of ordinary workers, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan.<\/p>\n<p>\u201cHouse prices in October increased by 13.5pc \u2013 the highest rate of increase in six years. This is a further increase on the 12.5pc spike we saw the previous month. These figures are further evidence that house prices are spiralling out of the reach of ordinary workers.<\/p>\n<p>\u201cHousing Minister Darragh O\u2019Brien repeatedly states that he wants to restore affordability to the housing market. Where is the evidence of that? The housing market is red hot \u2013 and the Minister\u2019s policy proposal to address this inferno is to pour more fuel onto the fire.<\/p>\n<p>\u201cThe CSO figures show our dysfunctional property market is getting worse, not better. Ordinary workers can no longer aspire to own their own home. Many, cannot even afford to rent given the astronomical prices being quoted.<\/p>\n<p>\u201cMy fear is that the situation will deteriorate even further when the Minister\u2019s ill-advised Shared Equity Scheme commences, given a similar scheme in the UK was shown to fuel house price inflation.<\/p>\n<p>\u201cIt\u2019s not too late for the Minister to abandon this hare-brained plan and focus on a measure that we know will work to alleviate this dire situation \u2013 a determined State intervention in which public homes are built on public land.\u201d<\/p>\n<p>15 December, 2021<\/p>\n<p>Ends<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ordinary workers can no longer aspire to own their own home New figures from the CSO show that house prices are spiralling out of the reach of ordinary workers, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan. \u201cHouse prices in October increased by 13.5pc \u2013 the highest rate of increase in six years. This is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,10,7],"tags":[],"class_list":["post-1746","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>CSO Figures Show House Prices Spiralling Out of Control - 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\/cso-figures-show-house-prices-spiralling-out-of-control\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CSO Figures Show House Prices Spiralling Out of Control - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"Ordinary workers can no longer aspire to own their own home New figures from the CSO show that house prices are spiralling out of the reach of ordinary workers, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan. \u201cHouse prices in October increased by 13.5pc \u2013 the highest rate of increase in six years. 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