Conor D McGuinness: Accuses Government of Choosing Funds over Families
Conor D McGuinness criticised the Government's handling of housing policy, saying house prices rose 47.7% in less than five years and accusing ministers of prioritising investment funds over families. He called for an immediate ban on bulk purchases of homes and highlighted a local rental emergency in Waterford where no HAP properties were available.
Housing price increases
He said house prices have risen by 47.7 per cent in under five years and described that as a failure by the Government of Fianna Fáil and Fine Gael to intervene. In Waterford he noted a 10.7 per cent price increase across city and county and cited an average price of €345,000 for a three‑bed semi‑detached house, warning that families are being squeezed out of their communities.
Bulk purchases by investment funds
He claimed that over 2,000 family homes have been bulk purchased by investment funds since ministers said the practice had been stopped, arguing entire estates are being snapped up and rented back at inflated rates. He repeatedly emphasised that homes are for living in, not asset portfolios, and accused the Government of choosing funds over families.
Waterford rental crisis
He pointed to an acute local rental shortage, saying that in Waterford there was not a single HAP property available to rent. He contrasted a young couple saving for a deposit with "vulture and investment funds" able to buy multiple houses without triggering higher stamp duty, framing this as a failure in both supply and policy.
Political accusations and demand for ban
He accused the Government and certain independents of protecting vested interests and invoked a past warning that bulk purchasing could not be tolerated, saying it was occurring on a minister's watch. He and his side of the House said they stood with workers and families and demanded the minister take action now by banning the bulk purchase of homes.
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In less than five years, house prices have risen by 47.7 per cent. That is a failure of your Government of Fianna Fáil and Fine Gael, a failure to respond, a failure to intervene and a failure to deliver. Over 2,000 family homes, Conservative estimates have been bulk purchased by investment funds since Ministers claimed they had stopped it. And in Waterford today there is not a single HAP property available to rent. House prices are up 10.7 per cent in Waterford across City and County. The average price for a three-bed semi-detached house is 345,000 Minister. Families are being squeezed out of their own communities while funds expand their portfolios. The price of the SwissBugnach is on the right hand side, and the price of the SwissBugnach is on the right hand side. The price of the SwissBugnach is on the right hand of the Cishti in the Stichta in the Bord Lorrigan 2011 HAP or Fáil and it is on the right hand side. The price of the SwissBugnach is on the right hand side and the right hand side of the Cishti Homes are for living in Minister, they are not asset portfolios. And while a young couple in Waterford saves every cent for a deposit, vulture and investment funds can buy nine houses without even triggering the higher stamp duty. While families search in vain for a rental, entire estates are snapped up and rented back at inflated prices. This government is choosing funds over families and people know it. Government needs to wake up and take action, you need to ban the bulk purchase of homes. Simon Harris once wrote that bulk purchasing of homes could not be tolerated. Now as Cornish then Minister for Finance, no less, it is happening on his watch. This is about power and priorities, Minister. Fine Gael, Fianna Fáil, the Lowry and Healy Ray independents are protecting their vested interests. And we on this side of the House are standing with workers and families. You need to take action now, Minister, and you need to ban the bulk purchase of homes.
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