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:
“The price of a home has increased by 9.6 per cent in just one year.
“The median price for a home is now €340,000, rising to €458,000 in the Dublin region.
“It is hardly surprising that Central Bank released a report today showing the rapid decline in Ireland’s homeownership rate.
“Just 52 per cent of 25 to 50-year-olds are now becoming homeowners, with the rest being priced out by skyrocketing house prices.
“The failure of this Government to get to grips with the housing crisis is locking a generation out of homeownership.
“Teachers, nurses, guards and other workers do not have a chance of settling down where they work and this is having devastating effects around the country.
“Report after report all show the same thing – that this Government is incapable of tackling housing and their time is up.”
September 18, 2024