McGuinness: Waterford’s soaring house prices demonstrate Government failure to address affordability crisis

Sinn Féin Councillor Conor D. McGuinness has said that the latest house price report shows that despite two years in office, the Fianna Fáil / Fine Gael / Green Party coalition has utterly failed to address the affordable housing crisis. 

The report shows house price increased by almost 12% in Co. Waterford over the past year –   far more than the state-wide average increase of 9.5%. The increase in Waterford City was 13.5% during the last 12 months

McGuinness said:

“The latest house price report shows house prices continue to spiral upwards. 

“State-wide, house prices have increased by 9.5% in the last year. Nineteen counties have double digit inflation, with both Waterford City and County in this bracket. House prices in Co. Waterford have increased by one full percentage point per month over the past year, while the pattern has been even more dramatic in the City.

“The Fianna Fáil – Fine Gael – Green Party coalition has been in power for two full years. Monday June 27 is the second anniversary of Housing Minister Darragh O’Brien’s tenure of office. During that time, he has utterly failed to address the affordable housing crisis.

“Not one single affordable home has been built in Waterford City and County during this time. Only a handful of affordable homes to purchase have been delivered in the state, despite inheriting a €300 million fund from his predecessor that was meant to deliver 6000 affordable homes by 2021. 

“During his two years in office, homelessness has returned to pre pandemic levels. In the last 12 months child homelessness is up over 40%. Single person homelessness has reached 5000 or the first time. 

“Meanwhile the crisis in the private rental sector gets progressively worse. Rents spiral upwards while the sector is shrinking as accidental and semi-professional landlords exit the market.

“Report after report on house prices, rents and homelessness demonstrate that this Government is failing an even greater number of people, and that Minister O’Brien is failing as his predecessor Eoghan Murphy did. 

“Budget 2023 is an opportunity to change direction. To dramatically increase direct capital investment in the delivery of at least 20,000 public homes a year to meet social and affordable housing needs. This is what is required to tackle the ever-growing affordability crisis.”

%d bloggers like this: