Cool the overheated housing market demands Laois representive

The latest Daft.ie report shows that Laois house prices have gone out of reach of what many workers can afford to buy, according to Laois Sinn Féin TD Brian Stanley.

The Laois Offaly representative believes the time has come to take steps to cool the market to allow people to buy.

“The latest figures show that the average price of 1,2,3 bedroom home in the county has now hit €262,827. This is a 7.6% increase on the same period last year, which is above the national average of 6.7% increase," he said in a statement.

"This Statewide survey shows that home prices increased by 35% on average since the current Government came to power four years ago. Securing a home has now become more difficult for workers on average incomes.

“The failure by Government to introduce significant affordable to buy schemes, 'cost rental schemes’ or rent freeze in the private rented sector along with other Government policies are fuelling house inflation. The introduction of the so-called 'Shared Equity Scheme’ has simply added another layer of debt (up to 30%) to hard-pressed home buyers and provided more cash for developers.

“Government need to recognise that to reduce house prices a significant volume of affordable to buy schemes, along with cost rental schemes and a three year emergency rent freeze are needed. These measures are required to cool the overheated housing market and to bring house prices to achievable levels for average income workers.’’

“Housing policy has to be about affordable homes for families and workers and not about enriching big developers and landlords,’’ he said.

A recent Central Statistics Office report on prices in the year to April also showed that the cost of Laois houses is rising faster than in Dublin.