Eoin Ó Broin has said while the local elections are a bad result for Sinn Féin, they are also a bad election for the Government.
The party's spokesperson on housing was speaking as more than 600 seats have been filled.
Fianna Fáil and Fine Gael remain neck-and-neck for the overall share of the local vote on 23%.
It continues to be a disappointing run for Sinn Féin who are on 12% with Independents continuing to poll strongly on 20%.
Labour is on 5% and the Green Party and Social Democrats are hovering on the 4% mark.
Deputy Ó Broin told Newstalk he and his party are disappointed tonight.
"We went into this election looking for a much more significant increase in the vote and a more significant increase in the seats and we did not get that," he said.
"I'm disappointed, I'm disappointed in my own constituency and for the really good candidates and good activists who put in a really hard slog.
"My general take is: is it a good election for Sinn Fein? No it's not and I think we need to be very, very honest about that."
'Is it a great election for @sinnfeinireland? No, it's not - but it's not a good election for the government either' - @EOBroin #LE24 #Elections24 @ElectionNT pic.twitter.com/sf8CRRdwCN
— NewstalkFM (@NewstalkFM) June 9, 2024
Deputy Ó Broin said the low turnout means it is a bad election for everyone.
"Anybody from Government suggesting that this is a good election when turnout is down, when huge numbers of people... [are] impacted by the cost of living crisis, by a housing crisis, by a healthcare crisis that's getting worse is somehow seeing the Government as an option to return to, that's not what the election results from Fianna Fáil and Fine Gael are saying tonight," he said.
"They're losing seats and they're losing votes.
"So is it a good election for Sinn Féin - no it's not - but it's not a good election for the Government either".
Dublin is expected to have its first vote in the next few hours in the European Parliament election.
