Housing Agency boss: ‘Homeowners must accept property values will drop’

Objections to new builds must stop and more people need to downsize to solve crisis

Bob Jordan: ‘We definitely need to look at sustainable communities in the context of all these new housing schemes’. Picture: Marc O'Sullivan

The head of the government agency charged with solving the country’s chronic housing crisis has told homeowners the value of their properties has to fall before the situation can improve.

Bob Jordan, the chief executive of the Housing Agency, also warned homeowners that they’d have to accept new developments in their areas even if they have concerns about resources and encouraged older people to downsize to make larger homes available for younger families.

The intervention comes just weeks after the government sharply criticised Sinn Féin over its vow to drive down house prices and is likely to reignite debate over the issue.