Revealed: How the State is squeezing out first-time buyers

"House-hunters are being priced out of market with €600m worth of homes snapped up by charities and state agencies, analysis shows"

"Thousands of first-time buyers are being squeezed out of the housing market by state-backed social housing providers and charities, an investigation by the Sunday Independent shows."

"An analysis of the property transactions shows that the Government has backed spending of more than €600m so far this year on some of the country's biggest property deals."

State-backed social housing providers and charities have bought more than €600 million worth of homes so far this year. Thousands of first-time buyers are being priced out of the housing market as a result. The Government supported spending on some of the country's largest property deals, directing funds toward social housing purchases. These acquisitions reduce the supply of homes available to private buyers, tightening competition and raising barriers for people seeking to buy their first home. The concentration of purchases by state agencies and charities has a measurable impact on affordability and market accessibility for new entrants.

Read at Independent