SPECIAL REPORT Renters feeling the brunt of housing crisis

surprising to see cost of living-related energy concerns dominate in this survey,” said Geary “ ere is still signi cant pent-up demand among prospective homebuyers but they are looking for different ways to ease thenancial burden”, she added.

Geary also pointed to a focus on renewable energy as a “fantastic long-term trend for both the market and the environment as a whole”. e MyHome.ie Managing Director also noted that supply is a “critical problem”.

“Even though over half of our respondents havenance and are ready to buy, just 13% believe the next year will be a good time to buy property.

“Added to that, a large majority (86%) believe the Government should be doing more to help. e various schemes that have been introduced have eased the pressure, but in reality we need to see a signi cant increase in home-building to satisfy demand.”

Meanwhile, extending eviction ban not ‘black or white decision’ says the Green Party as it again raises concerns.

Two-thirds of renters say rising costs a ect ability to purchase property

e new lending rules came into place this year and the previous limit of three- and-a-half times gross income had been in place since 2015.

Advertisement Consumer sentiment has also taken a sizeable hit.

Last August, 24% of prospective homebuyers said they believed the next year would represent a good time to buy property.

In the latest February survey, 13% of respondents said the same.

But, despite this poor sen - timent, demand still appears to be a strong feature of the property market.

Close to two-thirds (63%) of respondents havenances in place in the hope of buying a property in the next year, and more than half (56%) are con dent about their ability to buy in that timeframe.

Joanne Geary, Managing Director of MyHome. ie, noted that sentiment in the property market tends to mirror that of the overall economy.

“So it is perhaps not too

A spokesperson said: “Ireland is experiencing an unprecedented housing and a ordability crisis - from lack of supply, spiralling rents and bulk buying by investment funds. e Green Party is working hard to address these issues by introducing the biggest retro t scheme ever o ered in the history of the State; introducing cost-rental housing for the rst time to Ireland; addressing vacancy, dereliction and defective housing; and ensuring that 100% of housing built on public land in major urban centres is social or a ordable housing.

“We need to rebalance the constitution to enshrine the right to housing, and a referendum on Housing was a key commitment secured in the Programme for Government and this is being addressed through the Housing Commission.”