Seanad debates
Tuesday, 10 December 2002
Planning and Development (Amendment) Bill, 2002: Second Stage.
Did we ever believe there would come a time when the sale of houses would be considered a favour? Houses are now "released" and people are invited to join the queue to buy them. There is no market. I regularly disagree with the Minister who, in many instances, defends the market. Irrespective of our views, however, I believe we can agree that for the market to operate, there must be uninhibited supply and demand. Control of supply means a market is artificial and perverted. This has happened in the market to supply houses and we all know it. It is the only reason houses here are more expensive than anywhere else, excluding areas such as central Paris, in Europe. They are more expensive because, unlike other products in Europe, they are non-transferable. A house in Dublin remains a house in Dublin. As long as we are producing too few houses to meet demand, the current conditions on the market will persist.
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