South East’s 6.5% house price increase illustrates Government failure on affordable housing – McGuinness

The Sinn Féin leader on Waterford City and County Council, Conor D. McGuinness has said the Government is continuing to fail on affordable housing.

The West Waterford Councillor made the comments in response to the latest CSO Residential Property Price Index report, which shows that house prices have continued to rise.

McGuinness said:

“The latest CSO Residential Property Price Index report makes for depressing reading. In the last 12 months house prices have increased by 3% across the state and by an eye-watering 6.5% in the South East region.

“The report also shows that the selling price for apartments has risen by a staging 9.5% in areas outside Dublin, including the South East. 

“This is why so many people can not access affordable homes to rent or buy.

“The continued rise in house prices is a direct result of failed Fine Gael and Fianna Fáil housing policies. This has to change.

“Government must start to invest in the large scale delivery of affordable homes to rent and buy. 

“This will require a significant increase in funding for Councils and Approved Housing Bodies. It will also require the setting of ambitious yearly targets for the delivery of affordable homes for working people.

“Supply side policies like Help-to-Buy and Shared Equity Loan schemes will only push prices up further.

“Likewise, underinvestment in affordable homes will do little to meet the growing need.

“With just 90 affordable homes-to-purchase to be delivered this year, it is clear this Government does not understand what is required to deliver the volume of genuinely affordable homes that working people need and deserve.”