Government directly responsible for housing market vulnerabilities – Eoin Ó Broin TD
8 April 2025
Sinn Féin spokesperson on Housing, Eoin Ó Broin TD, has said that the government is directly responsible for housing market vulnerabilities.
The Dublin Mid West TD’s comments were made in response to a MyHome.ie and Bank of Ireland report which states that ‘the Irish property market’s disproportionate reliance on high income earners working in multinational sectors would see it vulnerable to any sudden economic shock’.
Teachta Ó Broin said:
“Today’s MyHome.ie Bank of Ireland report confirms the general trend of house price inflation across the country. It also confirms along with other recent reports that house prices are likely to continue rising into the near future.
“One interesting observation in the report is that housing market demand is ‘vulnerable’ to sudden economic shock. The report goes on to say that ‘the Irish property market’s disproportionate reliance on high income earners working in multinational sectors would see it vulnerable to any sudden economic shock’.
“While this will not come as a surprise to most people, it is concerning in the context of the imposition of trade tariffs by the Trump administration.
“The government is directly responsible for housing market vulnerabilities. Their failure to provide a sufficient volume of affordable homes to rent and buy coupled with their failure to support the SME builder-developer sector to increase their output has created a dysfunctional housing market where only those on high incomes can afford to buy a home.
“Sinn Féin has been arguing for many years for a change in direction. To address this imbalance, the government needs to increase and accelerate the delivery of genuinely affordable homes for working people. They must also put in place a range of activation measures to support the SME builder-developer sector to deliver more good quality homes at more moderate prices.
“Failure to do this will not only further expose our housing market to economic shocks but will continue to leave the majority of working people with no access to affordable homes to rent or buy.
“Today’s report provides yet further evidence that the government’s housing plan is not working. Without a radical reset of housing policy the housing crisis, along with its government created vulnerabilities, will continue to get worse.”
