{"id":2109,"date":"2023-05-17T11:54:18","date_gmt":"2023-05-17T10:54:18","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/rising-property-prices-putting-home-ownership-further-out-of-reach\/"},"modified":"2023-09-15T10:41:29","modified_gmt":"2023-09-15T09:41:29","slug":"rising-property-prices-putting-home-ownership-further-out-of-reach","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/rising-property-prices-putting-home-ownership-further-out-of-reach\/","title":{"rendered":"Rising property prices putting home ownership further out of reach"},"content":{"rendered":"<p><em><strong>House prices continue to rise while developers\u2019 profits soar<\/strong><\/em><\/p>\n<p>The latest Residential Property Price Index from the CSO will provide no comfort to those hoping to buy a home of their own, according to Social Democrats TD Cian O\u2019Callaghan.<\/p>\n<p>Deputy O\u2019Callaghan, who is the party\u2019s housing spokesperson, said:<\/p>\n<p>\u201cThe figures show that house prices continue to rise while developers\u2019 profits soar. The cost of buying a home in March has increased by 3.9 per cent since the same time last year.<\/p>\n<p>\u201cWith the median price of a home in Dublin now standing at a staggering \u20ac435,000, any hope of home ownership is becoming a pipedream for many.<\/p>\n<p>\u201cThe Government\u2019s only solution to soaring house prices seems to be putting ever-increasing amounts of public money into the pockets of private developers.<\/p>\n<p>\u201cThe latest \u20ac1 billion hare-brained measures promised hundreds of millions of euros to help developers bridge the \u2018viability gap\u2019 that apparently exists when building homes.<\/p>\n<p>\u201cGlenveagh Properties and Cairn Homes, two of the country\u2019s biggest property developers, made operating profits of \u20ac70m (up 38 per cent) and \u20ac103m (up 76 per cent) respectively in 2022.<\/p>\n<p>\u201cHowever, there are solutions to housing affordability. \u00d3 Cualann Cohousing Alliance have proven that homes can be built and sold on a not-for-profit basis for far below the market rate.<\/p>\n<p>\u201cThe Government should be investing in organisations like \u00d3 Cualann, who build genuinely affordable homes, rather than boosting the already substantial profit margins of the country\u2019s largest developers.\u201d<\/p>\n<p><em>May 17, 2023<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>House prices continue to rise while developers\u2019 profits soar The latest Residential Property Price Index from the CSO will provide no comfort to those hoping to buy a home of their own, according to Social Democrats TD Cian O\u2019Callaghan. Deputy O\u2019Callaghan, who is the party\u2019s housing spokesperson, said: \u201cThe figures show that house prices continue [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2065,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,10,7],"tags":[],"class_list":["post-2109","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>Rising property prices putting home ownership further out of reach - 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\/rising-property-prices-putting-home-ownership-further-out-of-reach\/\" \/>\n<meta property=\"og:locale\" content=\"ga_IE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rising property prices putting home ownership further out of reach - Social Democrats\" \/>\n<meta property=\"og:description\" content=\"House prices continue to rise while developers\u2019 profits soar The latest Residential Property Price Index from the CSO will provide no comfort to those hoping to buy a home of their own, according to Social Democrats TD Cian O\u2019Callaghan. 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