Rising house prices and affordable homes
Pearse Doherty challenges the Government over soaring house prices and the shortage of affordable homes. The Tánaiste defends Housing for All, cites housing commencements and supports for first-time buyers, and blames Sinn Féin policies for undermining supply and affordability.
Bhí an traein mall inniu. Gabhaim buíochas leis an Tánaiste. Faoina Rialtas, tá praghas na dteach ag méadú le bliain anuas. Méadú de 7% a chonaic muid inné. Ar fud an Stáit anois, tá meánphraghas €400,000 ar thithe do dhaoine atá ag iarraidh teach úr a cheannacht.
Yesterday, the CSO reported that in the past year house prices have continued to skyrocket, rising by more than 7%. Since the Government took office, the average house price in Carrigaline in the Tánaiste's constituency has increased by almost €100,000. Nearly half the houses in Carrigaline are being sold for more than €400,000. Under the Government, homes are becoming less affordable across the State, in every county and community, yet the Government crows that its housing plan is working and claims it has turned a corner. Across the State, first-time buyers now face an average price of €400,000 to buy a new-build home. On what planet is this affordable for ordinary workers and families? I hope the Tánaiste answers that question.
The rate of home ownership has fallen to its lowest level in 50 years under this Government. Homelessness is rising and house prices surging out of control. The numbers do not lie. The housing crisis is getting worse, not better. The number of new homes coming onto the market for people to buy and own fell last year and has flatlined under this Government. Investment companies and vulture funds are hoovering up properties to rent out at extortionate prices, but that is not a solution to the housing crisis.
Even those profiting on the back of people's misery are telling everyone the Government's housing plan will not make homes more affordable. Yesterday one of the biggest trade unions in the State warned the housing and affordability crisis is threatening our public services, with teachers, nurses and gardaí unable to find affordable accommodation in cities, towns and villages across the State. Businesses are telling us, and I am sure they are telling the Tánaiste, that the housing crisis is undermining our economy. Employers tell us they find it difficult to attract and retain staff. That is happening all around, yet Government Members have the cheek to say the housing plan is working and things are getting better despite the reality staring them blatantly in the face.
The Tánaiste's party created this housing crisis. Under Fianna Fáil and Fine Gael, it is getting worse. What are they delivering? Their affordable housing targets are pitifully low and they are not even meeting those targets, with too many of the properties that are being delivered simply too expensive. The Government's housing policy is designed to push up prices and that is exactly what it is doing.
Who are the losers in all of this? It is the ordinary people of Ireland who are losing out under Fine Gael and Fianna Fáil's disastrous housing policies as house prices continue to spiral out of control. It is the young people forced to live with their parents into their 30s, putting their lives on hold, or worse, forced to emigrate because they see no future in this land. It is the families trapped in a rip-off rental market who do not have any hope of owning their own home. That is why we need a change of government and a housing policy that would see the State start to deliver tens of thousands of homes that working people can afford.
I will ask the Tánaiste a very simple question on a commitment he personally gave. We are over four years since the general election. He personally gave a commitment to the electorate that, if elected, he would deliver 50,000 affordable homes to purchase at less than €250,000. My question is: where are those homes are today? I am sure many people are scratching their heads asking the same question. The Government's policy has driven house prices out of control and out of reach of ordinary families. What does the Tánaiste say to people in his constituency and across the State who are being asked to fork out €400,000-plus to buy a new build?
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At dtús báire, ní aontaím leis an Teachta. Níl aon amhras orm ach go bhfuil an straitéis Housing for All i bhfad níos fearr ná aon rud atá foilsithe aige féin nó ag a pháirtí, Sinn Féin. Níl aon amhras dá mba rud é go raibh siad sa Rialtas, go mbeadh an scéal i bhfad níos measa agus go mbeadh praghasanna i bhfad níos airde, go háirid do dhaoine atá ag ceannach tithe don chéad uair.
I disagree fundamentally with the Deputy's narrative and approach. Building houses is key. Fianna Fáil took up the housing portfolio at the start of this Government because historically Fianna Fáil has built houses.
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Through the decades and generations of this country's history, Fianna Fáil built houses. In terms of what is happening right now, the commencement notices provide extraordinary figures for the first four months of this year. Some 18,000 new houses were commenced in April 2024. That is approximately 600% higher than last year and the highest in any month since the series began in 2014. In the first four months of 2024, more than 30,000 houses were commenced. That is hugely above last year's figures. In the past 12 months, from May 2023 to May 2024, approximately 53,000 homes have commenced. There is momentum in house construction in this country.
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We are trying to create sustainability through the future Ireland fund, which Sinn Féin Deputies voted against yesterday. In the infrastructure fund that is part of that, we want to build in capital reserves so we can keep building houses at a sustainable rate into the future. Deputy Doherty told Davy stockbrokers he would support the future Ireland fund, then voted against it in the Dáil yesterday. It is classic. He is Dr. Jekyll to Davy stockbrokers but Mr. Hyde when he comes into the Dáil. I know which personality I believe in.
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The Tánaiste was asked a question about house prices.
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What should the Irish people believe when it comes to Sinn Féin housing policy? Deputy Doherty talks about house prices increasing. I do not like house prices increasing at the rate they are doing.
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The key to it is supply. Sinn Féín said it would remove the help-to-buy scheme. He voted against the first home scheme and the capital refurbishment grants----
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We will build tens of thousands of affordable homes.
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-----in terms of vacancy and dereliction. The net outcome of Sinn Féin policies would be a substantial and significant increase in house prices for first-time buyers. There are 450 per week now buying houses for the first time.
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Sinn Féin policies would take away the supports we have put in place for first-time buyers that enable them to buy houses at unprecedented rates----
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Where are the affordable homes the Tánaiste promised?
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------in the past number of years. The number of first-time buyers is increasing because of the Government's policies over the past four years-----
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-----across the help-to-buy scheme, first home scheme and the various affordable schemes.
On the social housing front, Deputy Doherty has to acknowledge there have been significant increases-----
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We would be delighted if he would answer the question the leader asked.
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I appreciate the leadership ambitions of Deputy Ó Broin. They are clear, but in a more serious vein-----
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My only ambition is to build affordable homes, something the Government promised and has refused to do.
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-----we are talking about pricing and affordability. Sinn Féin policies would undermine the capacity of first-time buyers to buy homes at an affordable price-----