Dáil Éireann Debate, Wednesday - 5 October 2016
148. Deputy Bernard J. Durkan asked the Minister for Housing, Planning, Community and Local Government to outline his plans to ensure that house prices are not inflated as a result of any measures to stimulate the housing market; and if he will make a statement on the matter. [28939/16]
View answer150. Deputy Bernard J. Durkan asked the Minister for Housing, Planning, Community and Local Government to set out the total number of families living in private rental accommodation who are likely to have a need to purchase a home of their own; if a plan will be formulated to meet their needs, having regard to the fact that their ability to raise a deposit is impeded by the level of their rent; if this can be taken into account with a view to facilitating their mortgage application; and if he will make a statement on the matter. [28941/16]
View answer151. Deputy Bernard J. Durkan asked the Minister for Housing, Planning, Community and Local Government to outline the extent to which first-time house buyers will be assisted in their quest for a home of their own, given their inability to compete with those who are trading up by virtue having to meet high rent payments; and if he will make a statement on the matter. [28942/16]
View answerI propose to take Questions Nos. 148, 150 and 151 together.
The Government recognises the major challenges presented by the shortage of housing at affordable prices, rising rents and the unacceptably high level of homelessness. That is why, in publishing the Rebuilding Ireland Action Plan for Housing and Homelessness, the Government has set out a practical and readily implementable set of actions to create a functioning and sustainable housing system. The Action Plan includes more than 80 separate actions and is very much focussed on the increased supply of affordable homes in the right locations.
Pillar 4 of the Action Plan deals with the rental sector and commits to developing a comprehensive strategy for the sector in Q4 2016. The strategy will be structured around 4 key areas: security, standards, supply and services. In terms of supply, the strategy will focus on maintaining existing levels of rental stock and encouraging investment in additional supply to foster greater rent stability and choice. Moreover, the Residential Tenancies (Amendment) Act 2015 introduced a number of measures to address rent stability and housing supply. The minimum period between rent reviews for tenancies was increased from 12 to 24 months and this new provision will apply for a 4-year period.
The rental market in Ireland has grown significantly in recent years and now accounts for around 20% of total Irish households. There are no figures available, however, as to the proportion of those households who wish to purchase their own home.
The common thread running through the five Pillars of Rebuilding Ireland is a focus on increasing housing supply, in order to achieve a better supply/demand balance in the market, with consequential benefits in terms of social housing availability, moderated rents and house prices. This focus on housing supply is shared across Government. Any housing related taxation issues are a matter for the Minister for Finance to consider in a Budgetary context.
