Saturday 22 July 2017

Housing crisis a blow to our social cohesion

The good news is that the property market is recovering - the bad news is that many of those seeking their own home for the first time still appear locked out of the market. Photo: Stock
The good news is that the property market is recovering - the bad news is that many of those seeking their own home for the first time still appear locked out of the market. Photo: Stock
Editorial

Editorial

The good news is that the property market is recovering - the bad news is that many of those seeking their own home for the first time still appear locked out of the market.

House price statistics today show that prices rose by over 10pc in the Dublin area and by 9pc elsewhere across the country. The prices jointly logged by Davy and My Home.ie strongly suggest that the house price increase for 2017 will be in double digits.

The price assessment suggests that the increases are related to the economic recovery; to an easing of lending rules by the Central Bank; and the Government's 'Help-to-Buy scheme'. Already the Opposition has again seized upon the crisis, with one party warning that we may be witnessing an end to young people's ability to buy their own home, and another calling for an end to the 'Help-to-Buy scheme'.

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