Sinn Féin perform another ‘Mary Lou turn’ on housing – Cummins

Sinn Féin promises to deliver homes for ‘as low as €250,000’ if elected is a desperate attempt to muddy the waters following their party leader’s claims 140 days ago that they would deliver 3 bed semi-detached homes in Dublin city for €300,000, a Fine Gael Senator has said.

Senator John Cummins, Fine Gael’s housing spokesperson, said: “In December, Sinn Féin party leader Mary Lou McDonald controversially claimed the price of the average 3 bed semi-detached house in Dublin would drop to €300,000 if they were in Government. What we have seen this then is a desperate effort to muddy the waters of the party said they could deliver.

“Then in February on RTÉ’s Drivetime, party spokesman Eoin Ó‘Broin spoke about selling ‘70, 80 and 90 sq/m starter homes’ to people at costs of €300,000 or below, with no reference to location or house type.

“In an interview today, Deputy Ó’Broin is talking about delivering affordable homes with no equity stake at a cost of €250,000, again with no reference to house type or location. The reality is a standard 3 bed semi-detached home in Ireland is 100-120 sq/m in size, with Department guidelines stating the average 3 bed semi-detached unit should be 92-102sq/m in size.

“It begs the question are Sinn Féin talking about houses or apartments? Or are Sinn Féin proposing houses with 3 box rooms? To me, this seems like another major U turn; or worse still a Mary Lou turn.”

Senator Cummins cautioned against the terms and conditions which Sinn Féin will impose on buyers.

He added: “These terms which they freely admit to should be cause for concern for any would be purchaser. Essentially it would mean that those who purchase an affordable dwelling under their policy would remain as quasi renters because they will never be able to own the land on which it is built.

“This means Sinn Féin will prevent you from selling the property on to a niece, nephew or friend if they do not fit into an arbitrary income bracket imposed by them. You will also be restricted in the price you can sell it for despite paying your full mortgage – that is not real homeownership.

“Compare that to the current Government schemes where the Help to Buy of up to €30,000 can be used for your deposit and an equity stake of up to €100,000 can be taken in the property to lower the mortgage required.

“The equity can sit there without any interest or it can be paid off at a future point in time of your choosing meaning you have full ownership of the home and are not restricted in any way in terms of future onward sale.

“Si. nn Fein are determined to abolish all of these schemes which have started working for purchasers.

“If we look at Brindle Close in Waterford City, a 102 sq/m, A-rated, 3 bed semi-detached home, can now be purchased with a €75,000 equity stake for €225,000, meaning a couple both working full-time, on the minimum wage, who can borrow four times their wage, can buy a brand new affordable purchase home. Despite this, Sinn Féin shamefully want to tear up this scheme,” Senator Cummins concluded