New figures from the Central Statistics Office (CSO) show that rising house prices are locking a generation out of homeownership, according to Social Democrats TD Cian O’Callaghan.
Deputy O’Callaghan, who is the party’s housing spokesperson, said:
“House prices increased by 8.2 per cent in the 12 months to May 2024. The median price of a home is now €335,000, rising to a staggering €450,000 in Dublin.
“The number of homes purchased also decreased by 9.9 per cent in just one year.
“Behind these statistics lie the human cost of the housing crisis, where homeownership is just a pipe dream for the many people struggling to pay exorbitant rents or stuck living in their childhood bedrooms well into their 30s.
“These utterly unaffordable house prices are locking a generation out of homeownership and forcing many to consider a life abroad in order to start an independent life.
“We clearly do not need any more evidence to show that this Government is not up to the job.
“House prices, rents and homelessness have all consistently skyrocketed since 2020.
“This Government is clearly out of ideas as the clock is ticking on the next general election.
“In the meantime, the Minister for Housing should act decisively and implement the recommendations of the Housing Commission report.
“More political spin on housing is not going to put a roof over anyone’s head. Talk of ‘progress made’ and ‘corners turned’ isn’t going to cut it for the people who are suffering the effects of the housing crisis.
“This Government’s time is up – an election can’t come soon enough.”
July 17, 2024