Reforming the housing market

Sir, – The plan called “Rebuilding Ireland” has turned out to be the Government’s greatest failure.

The cost of the average house for the average income has doubled in one generation.

In other words, the multiplier between salary and price has grown from five times to 10 times.

That is truly disappointing because it pushes far more people out of home ownership.

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I believe that the present Government is ideologically averse to real reform of the housing market.

It has created a scenario where private developers and vulture funds are buying up entire housing schemes and shutting out family purchasers. This must be a central issue in the next general election.

Your readers may ask what is making Dublin housing so expensive now, even allowing for genuine scarcity. There has not been any extraordinary jump in the price of the raw materials, such as cement, timber, plaster or glass. Any burden arising from extra safety regulations is offset by higher densities. The main obstacle is the price of land and the hoarding of land by speculators. A change of government is needed to bring real housing reform. – Yours, etc,

Cllr LETTIE McCARTHY,

(Labour),

Stepaside,

Dublin 18.