Ruairí Ó Murchú (Louth, Sinn Fein) | Oireachtas source

Yesterday, Daft.ie released its latest house prices report. Shockingly - or not shockingly - it showed house prices continuing to spiral out of control. In the year to June, the average price of a home increased by almost 7%, to €340,000. In Dublin city, average house prices have hit €543,000, up almost 5%. In Louth, average house prices are now almost €300,000. That is up 7% in a year.

We all accept the affordable housing targets are too low. They are not being met and too many of the homes are not affordable to the majority of working people. In my constituency of Louth, there were no affordable-purchase homes in 2022 or 2023. I brought up the issue of Cois Farraige this year. A cost of €305,000 is not an affordable house in County Louth. Only five out of 26 applicants met the criteria. The time was extended and more people applied but what was meant to be ten affordable houses has ended up being five affordable houses. We know that house prices continue to rise. They are up 35% since the onset of Covid, and show no sign of falling in any way, shape, or form. The Government must look at the scheme as it is not working. The local authority in Louth and its officials say there is an issue with the criteria. This is not the first time I have raised the matter, but we need somebody to look at it and to come up with a scheme that will work and provide affordable housing.

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