New House Price Figures Paint Bleak Picture for Homebuyers

TD Seán Crowe has said the publication of the latest house price figures from the Central Statistics Office paints “a really bleak picture for potential homebuyers”.
 
Teachta Crowe said: “The latest Central Statistics Office house price index shows that prices are continuing to rise and are up by 4.5% state-wide in the last 12 months, with house prices up 5% in Dublin City during the same period. “Outside of Dublin, house prices were up by 4.9% and apartment prices rose by a whopping 11.3%. 
“This residential property price inflation highlights once again that prices are continuing to rise, and homes are increasingly out of reach for most homebuyers.
 
“To place this growth in perspective, there has been a 91% increase in house prices state-wide since 2013. “Buying a home has become an increasingly difficult and bleak prospect for ordinary workers on decent incomes and I genuinely believe that the current government does not comprehend the scale of the problem and the challenge facing those looking to buy their own home. “The alternatives, particularly for those based in Dublin, such as renting for longer to save isn’t an option, with monthly rents now higher than any other European cities.
 
“Options for most homebuyers are shrinking and home ownership is becoming a pipedream for the majority. “We need to reverse this trend and start providing people with more than a glimmer of hope. “The only real answer is for the State to step in, deliver affordable purchase homes that people can afford, at a vastly increased scale, with no hidden or unmanageable charges. “The government has an opportunity with its new housing policy and with Budget 2022 to truly make a difference for all those ordinary workers struggling to buy a home.”