Sinn Féin TD Alarmed by Escalating House Prices in Donegal
With the escalating prices of new homes in Donegal, Ireland, Pádraig MacLochlainn, a Sinn Féin TD, has voiced his anxieties. A report from real estate website Daft.ie has been cited as the source of his concern, indicating that the average price for a new build in Donegal in the previous year was €289,000. Presently, the asking prices for new semi-detached homes surpass €300,000.
Rising Prices and the Affordability Crisis
MacLochlainn pointed to an alarming 11% rise in the average house price in Donegal over the past year, bringing it to almost €220,000. The fact that many of these homes are second-hand sales, requiring further investment, pushes the actual costs perilously close to those of new builds. The Society of Chartered Surveyors Ireland (SCSI) concluded that to afford a basic new home, a Donegal family would need an income of €85,000 – a threshold out of reach for many in the region.
The Government’s Role in the Housing Dilemma
MacLochlainn has openly criticized the government for its failure to meet affordable housing targets, and more importantly, for not having a plan to construct affordable housing in Donegal. The Sinn Féin TD has expressed his belief that the government is turning a blind eye to the growing housing crisis, thereby exacerbating the situation.
Calls for Policy Change
MacLochlainn strongly urged a policy change to curtail new home prices and increase the delivery of genuinely affordable homes by local authorities and approved housing bodies. He referenced the situation in Tipperary, where Sinn Féin TD Martin Browne has also voiced concerns about the escalating house prices, which are attributed to poor government policy, demand-side subsidies, and the controversial Shared Equity Loan scheme.
This situation underscores the urgent need for policy changes that can help alleviate the housing crisis, not just in Donegal but across Ireland, and provide affordable housing for its citizens.