SIPTU: Govt must investigate housing profiteering

The country's largest union, SIPTU, is demanding that the Government immediately appoints a regulator to investigate and prevent profiteering in the house building sector.

It follows Bank of Ireland's quarterly Property Review, which forecast a 2% rise in the cost of second hand houses across the country.

The expected rise in Dublin is as high as 14% by the end of the year, despite construction being up 30%.

SIPTU's construction branch official, Michael Finnegan said: "It's shocking that none of our members can afford houses."

He claimed that a small group was "denying people the right to own property".