House prices spike shows urgent need for affordable housing scheme

July 11, 2017

The latest sharp rise in house price inflation shows how urgently an affordable housing scheme is needed, Social Democrats co-leader Catherine Murphy TD said today.

Deputy Murphy was commenting on Central Statistics Office figures which show that house sale prices rose by almost 12 per cent in the year to May 2017. This compares with an increase of 5.4 per cent in the twelve months to May 2016.

The figures show that the average cost of a home in Dublin is €401,600 and for the country the average market price paid for a house was €249,358.

Deputy Murphy said:

“These figures show the huge affordability gap for people trying to buy a home. It is now virtually impossible for a single income household to buy an average home anywhere in country, while prices in Dublin mean that for many people buying a home has become a pipe dream.

“This failure to ensure that housing is affordable for everyone has major implications for the cost-base of the economy as a whole. It is also having serious impacts on people’s lives as it means they can’t plan for the future and make decisions about whether to start a family and where to send their children to school.”

Deputy Murphy added:

“Nothing short of a government-driven Affordable Housing Scheme will solve this crisis. We need to start building sustainable social and affordable housing in appropriately mixed communities. Central Government needs to take responsibility for a major public housing programme and agree to fund and equip local government so that affordable homes can be delivered in a sustained and steady way.”


11 July 2017