The article discusses the impact of falling house prices in New Zealand and whether a similar trend could benefit renters and first-time buyers in Ireland. It highlights the government's pledge to increase housing supply and explores differing viewpoints on whether falling house prices are desirable.
House prices in New Zealand have begun to fall - would it help renters and first time buyers if the same thing happened here?In the newly revealed Programme for Government, Fianna Fáil and Fine Gael pledged to “prioritise a radical step change in housing supply” as house prices and“House prices in New Zealand are falling because they have managed to - even in a time of growth in the economy and increased population in cities - they’re building enough houses,” she said.Home for sale.
When fellow presenter Shane Coleman queried how popular such a policy would be in Ireland, Ciara said it would depend on who you ask.“The people who want the house prices to fall are the people who don’t have houses. “That’s the great unspoken truth; if you have a house, do you want your house price to fall? Probably not.New homes under construction. Picture by: Gareth Chaney/ Collins Photos.When in December last year, Mary Lou McDonald said she would like to see average house prices fall to around €300,000 in Dublin, she was strongly criticised by the Government.
Then Taoiseach Leo Varadkar said it would “put a lot of people into negative equity” and urged the Sinn Féin President to “think more about the things she says about investment and tax, about asset prices, house prices, how that can actually hurt people”.
HOUSING PRICES RENTERS FIRST-TIME BUYERS HOUSING SUPPLY IRELAND
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