Commenting on figures from Daft.ie showing that house prices jumped an average of €20,000 in the last year, Social Democrats Housing spokesperson Cian O’Callaghan TD said:
“The jump in house prices over the last year is a further setback to families and individuals struggling to buy a home. It is crucially important that the Government drops its plan for shared equity loans which will further inflate house prices. It would be grossly irresponsible if the Government proceeds with its plan to add fuel to the fire when it comes to house prices.
“There are already a number of factors pushing up house prices during the pandemic – these include reduced supply, an overall increase in household savings and favourable tax treatment of REITs, which is pushing up the prices of apartments in particular and pushing out first time buyers.
“I’m calling on the Minister for Housing to drop his proposals for shared equity loans from the Affordable Housing Bill. We need measures that will increase the supply of affordable homes – not measures that will further increase demand and house prices.”
March 31, 2021