Time to put up the ‘For Sale’ signs

Speaking to commuters in County Louth, EU Election candidate Senator Rónán Mullen has called on Minister for Housing Jan O’Sullivan to deal with the under-supply of affordable family homes within commuting distance of Dublin.

He said:

“According to media reports, banks, building societies and receivers are stockpiling an enormous portfolio of repossessed homes and apartments and they appear to be unwilling to put these for sale on the open market. Meanwhile, particularly around the capital, there is a chronic shortage of affordable family homes. The demand for property is causing artificially-inflated house prices and creating a price bubble.

“In fact, the Government and State-owned banks are interfering in the property market just as previous governments did during the boom with a spate of section 23-type tax reliefs and cheap money. It was the hard-pressed working families of this country that paid the price then and they are paying it again now.”

“Banks that have been heavily subsidised by Irish taxpayers should not be stockpiling property – particularly not in areas with a significant demand for housing. Instead of seeking ‘recommendations’ and commissioning expensive ‘expert’ reports, the Government should force banks, building societies and receivers to put properties on the open market immediately so that supply can go someway towards meeting the current demand,” Senator Mullen insisted.