Tipperary TD, Jackie Cahill has said that his office is being inundated by young couples deeply concerned about their future ability to every own a home.
“Every week, I meet with couples who have good jobs but just can’t get mortgages to buy their first homes.”
“The average price for a three bed semi-D in Tipperary rose by over 5% in the last three months alone to stand at €138,125.”
“This is one of the largest rises across the country, and shows that there is clearly a lack of housing supply in Tipperary.”
“Incomes aren’t rising by the same levels here in Tipperary, and these house price rises run the risk of putting home ownership out of reach for an entire generation.”
The Fianna Fail Deputy stated “Housing supply needs to be increased, and how mortgage deposits are calculated needs to be addressed.”
“Fianna Fáil has submitted detailed proposals to the Central Bank’s consultation on mortgage guidelines.”
“Our proposals, which would allow 25% of the deposit requirement for first time buyers be met by taking into account rent payments over the previous three years would significantly open up the mortgage market,” said Cahill.
“We cannot stand by and let the housing market over heat. More houses need to be built, and buyers need to be supported to reach sustainable deposit levels,” concluded Cahill.