Sinn Féin Councillor Conor D. McGuinness, has said that spiralling house prices confirm that the Government’s housing plan is failing.
The Central Statistics Office’s Residential Property Price Index shows that house prices in 2023 breached their previous Celtic Tiger peak and that new house prices have increased by 9%, while the most recent published data from the RTB shows an 11.2% increase in rents across Waterford last year.
McGuinness said:
“The 2023 report from the CSO is more bad news for struggling home-buyers. House prices are now higher than the Celtic Tiger-era peak.
“The report also shows that new home inflation was just above 9% last year, significantly above second hand homes.
“At the same time we sent rents increasing across the state, with rents in Waterford rising faster than the national average.
“These out-of-control rent increases, coupled with spiralling house prices confirm that the Government’s housing plan is failing.
“In fact, their policies are making things worse.
“Their affordable housing targets are two low. They are not being met and many of the homes being delivered are simply not affordable to the majority of working people. I am campaigning for delivery of affordable housing in Dungarvan, Ardmore and An Rinn but in the fourth year of this Government we have yet to see any delivery.
“The consequence of this failure in delivery is rising prices, sluggish supply and limited affordability.
“The consequences are emigration, overcrowding and too many people forced into an insecure and expensive private rental sector that is simply not equipped to meet their needs.
“The only way this housing crisis will be brought to an end is with a general election, a change of Government and a change of housing plan.”
Conor D. McGuinness TD 