Generation “locked out of ever owning a home” says O’Callaghan

Rising house prices are causing a generation to be “locked out of home ownership” according to Social Democrats TD Cian O’Callaghan.

The Dublin Bay North TD, who also serves as the party’s housing spokesperson, was reacting to the latest residential property price index from the Central Statistics Office which found that the cost of buying a home has increased by 6.1% in the last 12 months.

First-time buyers must stump up €330,000 to match the median price of a house across Ireland as a whole, with the figure jumping to €445,000 in Dublin.

“Is it any wonder there are over half a million adults stuck living in their childhood bedrooms?” O’Callaghan remarked.

“A highly educated and skilled generation is once again being pushed out of Ireland but this time it is not for a lack of work. They are leaving because of the housing crisis – a crisis that should have been addressed a long time ago.”

O’Callagha said the housing crisis is having a “devastating impact on all aspects of our society”

“Nurses, teachers, gardaí and other workers can no longer afford to settle down here,” he said.

The Social Democrats TD said he and his party have proposed “practical” solutions to the crisis, but have been shot down by coalition parties.

This week, the party brought forward amendments to the Planning and Development Bill in the Dáil, which were rejected.

The party’s proposals included the introduction of a specific zoning for affordable housing, which O’Callaghan says would translate to “genuinely affordable homes being built on specific areas of land.”

O’Callaghan noted the practice is carried out in Vienna, which he notes is one of the most affordable places to live in Europe.

“The Government inexcusably rejected this proposal without any clear reasoning,” he said.

He called the current system of governance a “merry-go-round of Taoisigh pursuing the same failing policies will do nothing to bring down the cost of buying a home.”

“The locked-out generation needs a new housing plan – and a new Government,” he stated.