Housing affordability in Dublin deteriorates as Pearse Doherty warns that even solid dual incomes are insufficient for typical homeownership

Housing in Dublin is increasingly out of reach for ordinary workers, Sinn Féin finance spokesperson Pearse Doherty warned in the Dáil this week.

Speaking during Leaders’ Questions, Doherty painted a stark picture of a capital city where even two solid incomes may no longer be enough to secure a home.

Prices Keep Rising Despite Warnings

Doherty pointed to recent figures from the Central Statistics Office, which show that the median price of a home in Dublin has now reached half a million euro.

“Under this government, prices have jumped by €100,000 in just four years across the country,” he said.

“How is anyone supposed to live in Dublin now? Even two decent incomes aren’t enough.”

He added that in some parts of the city, prospective buyers would need combined earnings of over €150,000 to purchase a typical home, putting homeownership far beyond the reach of nurses, gardaí, teachers, and young professionals trying to build a life in the capital.

Harris Points to Housing Supply and Schemes

Tánaiste Simon Harris acknowledged that housing prices are high, but he argued that the median figure does not capture the full picture of what is available.

He noted that anyone searching the market could find homes in Dublin priced below €500,000.

Harris also emphasized that housing supply has been rising, pointing to more than 50,000 homes purchased in 2025, including almost 20,000 by first-time buyers.

He highlighted that first-time buyer mortgage drawdowns have grown from 500 to 600 per week and that over 60,000 applicants have taken advantage of the Help to Buy scheme, with more than 9,000 approved for the First Home Scheme.

These measures, Harris suggested, help reduce the effective cost of buying and give buyers more options.

Young People Feeling Locked Out

Doherty countered by stressing that young people feel trapped by the system rather than by their own efforts.

“They’ve lost a decade compared to their parents’ generation,” he said.

“Many feel their future has been taken from them, not because they failed, but because the system has failed them.”

The exchange highlights the tension between rising property prices and government efforts to improve supply.

While schemes and incentives exist, critics argue that these measures are not keeping pace with the rapidly increasing costs faced by ordinary buyers.

Early Signs of Increased Housing Activity

There are some early indications that housing activity may be picking up.

In January, 2,046 homes were commenced, marking a 73 percent increase compared with the same month in 2025.

While this signals progress, experts caution that demand continues to outstrip supply, and affordability remains a pressing issue for many Dublin residents.

What’s Next?

The government will need to continue finding ways to boost supply and support first-time buyers if it hopes to address the affordability crisis.

This could include reviewing planning policies, increasing investment in affordable housing, and ensuring that programs like Help to Buy and the First Home Scheme are accessible to those who need them most.

Meanwhile, prospective homeowners will be closely watching both market trends and policy developments as they navigate an increasingly expensive housing market.

Summary

The debate in the Dáil underscores the growing struggle of ordinary workers trying to enter Dublin’s property market.

Even two solid incomes are often no longer enough to afford a typical home, with some areas demanding combined earnings above €150,000.

While the government highlights rising housing supply and schemes for first-time buyers, critics argue that young people are being locked out due to systemic issues.

Early signs of increased construction provide some hope, but the challenge of affordability remains a major concern.