Skyrocketing property prices continue to be the main barrier to owning a home in Ireland, according to Social Democrats TD Cian O’Callaghan.
Deputy O’Callaghan, who is the party’s housing spokesperson, said:
“The latest national Residential Property Price Index, published today by the Central Statistics Office (CSO), recorded a 9.7 per cent increase in the 12 months to October 2024.
“In Dublin, prices rose by 10.4 per cent, while the increase was 9.2 per cent outside the capital.
“With the median price of a home now standing at €350,000 – and even higher in Dublin – a generation continues to be locked out of homeownership.
“When the outgoing government took office in June 2020, the median price for a home in Ireland was €260,000. Since then, the price of a home has increased by a staggering €90,000.
“This explains why there are over half a million adults stuck in their childhood bedrooms, and almost 15,000 people – including more than 4,600 children – living in emergency homeless accommodation.
“Lack of supply and affordability lie at the heart of this crisis. The next government must ensure there is a radical reset of housing policy to make owning a home of your own more than just a pipedream.
“This can only be done by treating the housing crisis as the national emergency that it is.”
December 18, 2024