Dublin South West Sinn Féin TD, Seán Crowe, has described the most recent Daft.ie House Price Report, which shows house prices continuing to rise across the State at 2.9% during the first three months of 2019, as “deeply worrying.”

The report shows that in Dublin the average house price is now €383,000 or 74% above its lowest point in 2012.

Deputy Seán Crowe said:

“There is nothing positive in the most recent Daft.ie House Price Report for those stuck in the rental sector, for first time buyers, or for anyone looking to buy an affordable home.

“House prices are continuing to rise across the State at 2.9% according to this report. The price of an average house in Dublin is now running at €383,000 and that means that the prospect of buying a house is virtually a no go area for someone on the average wage.

“Individuals and couples are completely priced out of the market and unable to buy a home. They are stuck in the rental sector and rents increased by a massive 17% in the last year, and they are projected to grow and grow because of a lack of government regulations.

“The vast majority of young prospective house buyers don’t have parents with thousands of euro lying around to give them a hand out to buy a home, like the Taoiseach Leo Varadkar received and suggested was a normal way for people to get a mortgage deposit.

“Equally worrying is that the report clearly outlines that there has been an increase in the volume of accommodation coming on the market but the cost of a new home and rent continues to spiral out of control. Simply increasing supply is not bringing down prices.

“Hard working individuals and families are trapped in rented accommodation with spiralling rents, completely priced out of the market to buy a home, and homelessness figures have reached record levels. Fine Gael’s housing policy, which has been rolled out with Fianna Fáil support, is clearly massively failing and it is having a devastating impact on thousands of families, children, pensioners, couples and students.”

ENDS