Cian O'Callaghan (Dublin Bay North, Social Democrats) | Oireachtas source

I agree with Deputy Haughey about that report and how important it is.

The average deposit a first-time buyer needs to buy a home stands at €52,500. This has doubled in less than a decade. The average age of a first-time buyer is rising steeply and rents have almost doubled in the last decade. According to the Department of Public Expenditure and Reform, "The construction of new rental homes ... is only viable for households with a gross annual income of at least €100,000.” Does the Taoiseach agree that the increases in house prices and rents, well beyond the rate of wage increases, are completely unsustainable? Does he agree with the Department of Public Expenditure and Reform that the kind of new rental properties that investment funds are bringing on stream are simply unaffordable and out of reach for most people?

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