Sinn Féin TD Conor D McGuinness has said that there is ‘nothing affordable’ about house prices The Courtyard proposed affordable housing scheme in Tramore. He levelled his criticism at the Department of Housing, Local Government and Heritage for failing to ensure the scheme will truly affordable for local families in need of housing.
McGuinness said:
“Prices for three-bed homes in The Courtyard will cost up to €168,000 more than the average price for a three-bed semi-detached home Waterford as reflected in the most recent Daft.ie house price report.
“I questioned the Housing Minister on the purchase costs of these homes and he has confirmed that the Open Market Value of these homes will range from €356,000 for a 3-bed terrace to €379,000 for a 3-bed semi-detached home. Compare this to the average asking price of €211,000 for a 3-bed semi-detached home in Waterford, or even the median price of €338,000 for a new build home in Waterford. The discrepency clearly demonstrates that Government is failing to deliver on genuine affordability.
“The Government’s scheme allows local authorities to retain up to a 25% ownership stake in the house, but even with the largest possible stake being retained the cost to the purchaser is almost €90,000 more than the average asking price.
“How are local families supposed to set up homes? A whole generation is being locked out of home ownership. Those not crippled with sky-high rents, are raising their families in their parent’s homes or planning to move abroad.
“Its great to see houses built but Government needs to do so much better to ensure new units are genuinely affordable to those that need them.”
Conor D. McGuinness TD 