New figures from the Central Statistics Office (CSO) show that residential property prices have continued to spiral out of control under this government, according to Social Democrats TD Rory Hearne.
Deputy Hearne, who is the party’s housing spokesperson, said:
“According to figures released today by the CSO, property prices increased by 7 per cent in the 12 months to January. Nationally, the median price of a home stands at €389,000 – an increase of €30,000 in the space of one year – and is a staggering half a million euro in Dublin.
“The median house price nationally is now seven times the median salary of €54,000, rising to nine times the median salary for those seeking to buy a home in the capital.
“How is any average income worker supposed to be able to afford a home at these prices?
“The government has failed to address the underlying causes of rising house prices – a perfect storm of diminishing supply of homes and lack of affordability.
“In Dublin city last year, just 58 newly built properties were available for sale to home buyers. Across the country, just one in three of the 36,000 new homes built were purchased by ordinary buyers.
“The State needs to build affordable homes on a massive scale. But this government isn’t doing that – instead, it continues to focus on courting more vulture funds to buy and build expensive rentals that people on average incomes can’t afford to live in.”
March 18, 2026