The Government should take advantage of 'nervousness' in the market by buying up homes planned by developers.
That's according to Sinn Féin's housing spokesperson Eoin Ó Broin.
He was speaking after the latest Daft.ie report found house prices increased by 3.8% in the second quarter of this year.
Deputy Ó Broin told The Pat Kenny Show builders are concerned about the impact inflation, and a possible recession, could have.
"This Government has been in power for two years, and effectively Fianna Fáil and Fine Gael have been in power since 2016.
"So they've had plenty of time to get the appropriate levels of social and affordable supply to where they should be.
"But there are things a Government could do now to accelerate supply".
He says this should include an easing of bureaucracy from the Department of Housing.
"But crucially, Government isn't investing enough in the delivery of these homes.
"It is about accelerating the delivery of social and affordable housing, but it's also about increasing the levels of investment to deliver the homes that people need.
"On the private sector side, particularly because of construction sector inflation, we are hearing that there would be a nervousness among private developers and builders to commence new schemes next year.
"There could be good value for money for the State to step in and acquire those as turnkeys.
"Not just for social, but also for affordable housing as well".
He says this could mean contractors are already on site.
"What I'm proposing is because the private sector may be nervous about developing next year - and of course if they're on a site they might have debt, and that debt is costing them something - so there would be an incentive to consider selling.
"Subject to good quality developments and value for money, the State could actually have an opportunity here to acquire these developments with contractors on site".
He adds: "I know some local authorities are already exploring this, but I think the Minister should actively encourage it".