Inflated house prices and homelessness risk from Brexit, says Government

An exodus of British people and businesses leaving the UK after Brexit risks further inflating house prices and deepening the homelessness crisis, Government officials will warn today.

Inflated house prices and homelessness risk from Brexit, says Government

An exodus of British people and businesses leaving the UK after Brexit risks further inflating house prices and deepening the homelessness crisis, Government officials will warn today.

The Department of Housing will outline concerns at a cross-party Dáil committee this morning as the Brexit crisis reaches its latest crunch week.

Principal officer Damian Allen’s opening statement by the Oireachtas housing committee, seen by the Irish Examiner, will advise that, despite the Government’s preparations, Brexit is a genuine homelessness crisis concern.

Noting the likely surge of people escaping the Brexit fallout in the coming months and years, the department’s Mr Allen will say the issue could see “affordable” house prices increase dramatically due to demand.

In relation to homelessness, it is the strong view that significant increases in net migration would present a concern in relation to increased numbers of households having difficulty in accessing affordable accommodation,” he will warn.

“This highlights the critical importance of a number of the department’s programmes relating to increased delivery of all types of homes, social, affordable and private; strengthened regulation of the private rental market; and the delivery of additional emergency accommodation.

“Naturally, it is the department’s ambition that increased housing output will be sufficient to meet demand, but we are also cognizant of the potential risk in this area and will be monitoring the situation very closely.”

The concern is likely to be latched upon by opposition parties which have repeatedly raised fears over the damaging impact Brexit could have on Ireland’s rapidly-worsening housing crisis.

Sinn Féin’s housing spokesperson Eoin Ó Broin, during a similar housing committee meeting with the ESRI and the Nevin Institute last week, claimed the Government’s Rebuilding Ireland housing programme had failed to be Brexit-proofed and was now out of date.

Housing Minister Eoghan Murphy and Taoiseach Leo Varadkar have repeatedly said plans are in place to help the housing market cope with the Brexit fallout.

However, there are legitimate concerns that already inflated house prices could surge further due to the UK’s decision to leave the EU especially as rents here have already topped Celtic Tiger figures at their peak.

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