Surging house price inflation is further evidence that the government’s housing plan is not working, according to Social Democrats Dublin North-West election candidate Rory Hearne.
Hearne, who was recently selected as the Social Democrats’ general election candidate for Dublin North-West, has become one of the most prominent academics in Ireland on the topic of housing.
Estate agents DNG noted that house prices in Dublin went up by 9.3% in July, while house prices went up by 8.6%.
Hearne noted that Irish house prices are now 10% higher than the Celtic Tiger peak, but without the associated economic success.
“These enormous house price increases come on top of already record high prices for homes,” he noted.
“These kinds of skyrocketing house prices are not sustainable. More and more individuals and families are being locked out of home ownership – with hundreds of thousands trapped living in their childhood bedrooms or insecure and hugely expensive rental accommodation.”
“How are people on average incomes ever supposed to aspire to own their own home when every month the cost of that home gets further and further out of reach?”
“How are people on average incomes ever supposed to aspire to own their own home?”
He said the housing crisis was more akin to a “housing disaster” and it was the most pressing issue facing Irish society.”
“A lack of secure and affordable housing is causing huge multi-generational trauma,” he said.
“The government claims its housing plan is working, but all of the evidence says otherwise. If this is what success looks like, what would the government classify as failure?”