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Dáil
‹ Questions on Promised Legislation

Housing demand and prices

Summary

Deputy Doherty argued that budget measures were pushing up house prices and demand without increasing supply, and asked the Taoiseach to heed expert advice. The Taoiseach said experts do not make decisions, disputed the claim that all prices had risen, and said the Finance Bill would address the budget measures.

On Friday we will have the publication of the Finance Bill which will give effect to some of the Government's polices announced on budget day. When will the Government heed expert advice and evidence-based policy? Since budget day we have seen the price of new houses in certain estates soar by €45,000. We are informed by Daft that as a result of the budget announcement on Tuesday, traffic on its website for new homes increased by 130%, yet there are no new homes. What we have now is increased demand as a result of the Government's idiotic policy, which has been taken from Fianna Fáil's proposal for twice the amount of money for new homes. What is happening is a disgrace and the Government needs to stop it now.

Comment on this

This is time for questions not statements.

Comment on this

What is happening is that prices are going up, the Government is creating more demand and there is not enough supply. There cannot be enough supply for new houses to come on stream for at least another two years. Will the Taoiseach listen to the experts and everybody who has criticised this measure and heed the evidence we have seen in the past week of prices getting out of control again?

Comment on this
Enda Kenny The Taoiseach Fine Gael

The experts know all the answers but they rarely have to make decisions. There have been houses sold since the budget that did not increase in price. Deputy Pearse Doherty will always pick the one where prices have increased. Houses have been sold in circumstances where there have been no price increases. The Bill will be published at the weekend and it will deal strictly with the issues that were brought forward by the Minister for Finance in the budget.

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