Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation
Dail Éireann — 2021-03-04
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Leo Varadkar (FG), Dublin West

I do not agree with Property Industry Ireland on this particular issue. The reality is that when one does something that increases demand for housing, it may have a side effect - increased house prices. However, that does not mean that people should not be helped to buy. People argued against the help to buy scheme for first-time buyers because they thought it would increase house prices. The evidence that it did is pretty minimal, but the same arguments were used. Yet, it helped tens of thousands of people to buy their first home. The new scheme being developed by the Minister for Housing, Local Government and Heritage will help hundreds, if not thousands, of people to buy their first home. It happened in my local authority area of Fingal ten to 15 years ago. I know many people who were helped to buy their first home through shared equity schemes. If it is the case that increased demand for housing increases house prices, then the solution is not to stop people from buying houses or to make it possible to buy houses; the solution is to increase supply. That is how house prices can be reduced. That is why it is so disappointing to see the Sinn Féin Party vote against new housing in the Dublin city area. The party has helped to block the development of more than 2,000 new homes in Dublin city alone.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2021-03-04/debate/main
Retrieved: 2026-08-14T04:49:07+00:00
Sitting date: 2021-03-04