Handouts to developers are clearly not making homes more affordable
First-time buyers are facing a widening affordability gap when trying to purchase a home, according to Social Democrats TD Cian O’Callaghan.
Deputy O’Callaghan, who is the party’s housing spokesperson, said:
“A new report from the Banking and Payments Federation Ireland (BPFI) is further proof that home ownership is now increasingly out of reach. The median income of first-time buyers of new properties in Ireland is over €90,000, with this figure rising to €103,000 for those purchasing a home in Dublin.
“Given that the average salary in Ireland is under €50,000, this shows that Government housing policy has failed to address the affordability gap facing first-time buyers.
“State handouts to developers will do nothing to bridge this gap or make homes more affordable.
“Every report or survey published paints a bleak picture of the housing crisis. What is it going to take for the Government to act?”
May 24, 2023