Fianna Fáil must prioritise affordable housing

Labour leader and housing spokesperson Ivana Bacik has criticised Government’s lacklustre response to tackling affordability in the housing market.

Following the REA report showing that the average price of a three-bed semi-detached house nationally has breached €300,000 for the first time since 2007, Deputy Bacik expressed concern that Fianna Fáil are now allowing house prices to spiral out of control once again.

Deputy Bacik said:

“We know that the housing market is totally overheated, as evidenced by the REA report published today. It is interesting to note in the comments made by the REA that the average time of a house being on the market for sale has reduced to four weeks, highlighting the chronic shortage of supply and the urgent need for greater speed of delivery of new homes.

“First time buyers and younger people are being particularly impacted, with many having to look outside cities, away from their places of work, in order to have any hope of purchasing a home.

“Unfortunately, we’ve been here before with Fianna Fáil, a party that appears utterly incapable of producing an adequate supply of affordable homes.

"With supply at an all-time low, the State needs pick up the slack from where private developers have failed. There are simply not enough homes being built.

“Last week, I questioned the Housing Minister during Leaders’ Questions on what measures he is taking to tackle spiralling house prices – he suggested to me in response that house prices were not rising. This is clearly incorrect, as today’s report show.

“To add insult to injury, we know that there are thousands of vacant sites and derelict properties in every community around the country which could be utilised and repurposed much more effectively to bring more housing stock into supply.

“How many reports and warnings does this Government need before it takes the necessary urgent steps to address our chronic housing crisis?”