Government has created housing affordability crisis for first time buyers

• Building costs soar since Fianna Fáil took over housing
• Single people locked out of housing market

Labour leader and housing spokesperson Ivana Bacik said this Government is abjectly failing people desperately trying to get a foot on the housing ladder.

Deputy Bacik said:

"Home ownership is but a pipe dream for a vast number of people in Ireland. The Society of Chartered Surveyors Ireland indicate that to buy a standard home in Dublin, buyers would need a combined salary of €127,000 – well over and above median wages in this country.

“According to the CSO, the median income of households was €46,999 in 2022. Hardworking people are being left in an impossible situation by Fianna Fáil.

“What’s more, the very fact that this Government continues to pursue housing policies that benefit couples over single adult households is deeply disturbing and it’s not at step with where many people are.

“Home ownership is a legitimate aspiration for all people – single or married, young or old – and we need to put in place supports for collective approaches to home ownership for low and middle income earners.

"The housing disaster is not new, but its persistent escalation demands immediate, resolute action.

“Fianna Fáil are more concerned with spin and obfuscation, to the extent that many people now believe housing, like health, has become unsolvable. But this is simply not true. All that’s missing is the political will to build homes, prioritising social and affordable housing.

“Government's failure to grasp the nettle has perpetuated a cycle of in-affordability, forcing countless people into precarious living situations and perpetuating economic inequality. We cannot stand idly by as this crisis deepens, jeopardising the aspirations and well-being of countless individuals and families across Ireland.

“We in Labour have emphasised the urgent need for a comprehensive strategy to alleviate the housing crisis. It is imperative for Government to prioritise substantial increases in housing supply, focusing on both affordable and social housing initiatives. Additionally, implementing measures to curb speculation in the housing market and offering meaningful support to first-time buyers are paramount to restoring housing affordability and accessibility.”