Sinn Féin TD for Meath East Darren O’Rourke has commented on the publication of the Daft.ie House Price Report for Quarter 3 of this year. The report shows a €24,000 annual rise in house prices, with price inflation at its highest outside the cities at 13%. In Meath house prices have increased 7.9% in the past year, up to an average of €300,868.
He told Meath Live, “The latest House Price Report from Daft.ie shows further unsustainable house price increases across the state. House prices are now 9% higher than this time last year. In Dublin City prices are up another 5%, Limerick City just over 8% and Waterford City has shown increases of 6.3%.
“In Meath, the rate of growth was slower, but still well in excess of inflation, leaving the average cost of a house in the county at €300,868. Everyone knows that house prices are far in excess of that in many parts of the county, particularly in the commuter belt area bordering Dublin. This is completely unsustainable.
“Reckless government demand side policies like Help to Buy and the Shared Equity Loan scheme will inflate prices further unless they are scrapped.
“The only way to tackle rising house prices is for the state to ramp up delivery of non-market affordable homes. This way the price can be controlled, and ordinary working people will be able to secure mortgages to buy a home.
“There is just over two weeks until Budget 2022 will be announced. The government must take this opportunity to commit to at least a doubling of capital investment in public housing. The affordable housing targets must be substantially ramped up.