23 July 2025
By Tom Collins
tom@TheCork.ie
Forget owning a fancy house, even buying a normal house is beyond the reach of most people
A semi-detached house is not affordable for most
“More bad news for first-time buyers – Housing market is now rigged against ordinary hardworking people” says Cork TD
Michael Collins TD, leader of Independent Ireland, has condemned the Government’s continued failure to address Ireland’s deepening housing crisis, following the publication of new figures showing that the cost of a typical home has jumped by €35,000 in just one year.
According to a report in the Irish Independent this week, would-be buyers now need an average deposit of €74,000 to purchase a standard home – a figure Deputy Collins has described as “absolutely out of reach for most working people”.
“This is more bad news for first-time buyers, but sadly, it is no longer surprising. Year after year, house prices rise, and year after year, this Government does nothing meaningful to stem the tide,” Deputy Collins said.
“How can any young couple or single person on an average wage hope to scrape together €74,000 for a deposit, while also contending with sky-high rents, inflated childcare costs, and the general cost-of-living crisis?”
The report highlights that property values have now surpassed their Celtic Tiger peak, with homes outside of Dublin seeing some of the sharpest increases. The cost of a typical home nationally is now €359,000 – up from €324,000 a year ago.
Deputy Collins said the housing system is “rigged against ordinary hardworking people” and that government schemes to date have only served to inflate prices further.
“It’s a shambles. Developers are winning, investment funds are winning, but first-time buyers are being completely locked out.”
He also criticised what he described as the “Dublin-centric” approach of housing policy and called for urgent measures to rebalance supply across the country, particularly in regional towns and rural areas where demand is still unmet.
“We need to rethink and implement simple changes that would make a rapid impact and would deliver affordable homes in places where people actually want to live and work. We need fast-track planning for community-led housing, and incentives for local builders – not more box-ticking schemes that benefit nobody but the big players.”
Deputy Collins said the Government must immediately tackle the barriers facing first-time buyers, including high deposit requirements, rising interest rates, and limited supply.
“The Government needs to wake up to the reality that an entire generation is being priced out of home ownership. If they don’t act, then they should be prepared to step aside and let others fix the mess they’ve allowed to spiral out of control.”