Darren O'Rourke (Meath East, Sinn Fein) | Oireachtas source

I thank Deputy Cian O'Callaghan and his party, the Social Democrats, for tabling this motion. The cost of buying a home has increased by more than 25% since this Government came into office. It now costs almost €330,000, on average, to buy a home, an increase of more than €66,000 since 2020 and €90,000 since 2017. In my constituency, the average cost of a home is well in excess of €330,000. I look at www.daft.ie, particularly to see the prices of new homes in Ashbourne, Dunshaughlin, Dunboyne and Ratoath and note that one would be lucky to get a new home for €450,000. There are properties for well in excess of that. Further down into the constituency, in my home town, Kells, where I was born and reared, new homes are for sale for €400,000. That is huge money for workers and families.

The median income required by first-time buyers of new homes is now more than €90,000, and more than €103,000 in Dublin.Who has that? If they have it and can stretch themselves to buying a property, what pressure are they being put under to sustain a mortgage? We are aware that there is a surge in the number who are unable to make repayments. Early arrears cases increased by 3,000 in quarter 2 compared with the same period in 2021. One personal insolvency practitioner reported an increase of 475% in the number of people contacting him due to their not being able to make their repayments.

There is a small number of so-called affordable properties in Meath. There is a scheme in Navan at the minute and one recently closed in Dunshaughlin, but the properties are not affordable, certainly by the Minister's own measure when he was in opposition. The cheapest three-bedroom properties in the affordable housing scheme are coming in at €320,000 and the cheapest two-bedroom properties are coming in at €292,000. This is simply unaffordable and, as said by previous speakers, it has a real impact on families' and individuals' ability to plan their lives and on their health and well-being, sense of themselves, and job and mobility prospects. It is an absolute crisis, and this Government has proven very clearly that it is incapable of dealing with it.

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