Dáil Éireann Debate, Thursday - 13 July 2017
16. Deputy Mick Barry asked the Minister for Housing, Planning, Community and Local Government the number of persons seeking to buy a home that are unable to obtain mortgage approval on the basis of their incomes and prices; and if he will make a statement on the matter. [33393/17]
View answerMy Department does not hold detailed information on the numbers of households that have been refused mortgages by financial institutions or by local authorities. However, I am currently examining the Home Choice Loan Scheme and am also considering how local authority mortgages can be better publicised to ensure that credit worthy households who may be unable to source adequate loan finance from commercial lenders but could be eligible for one of the local authority mortgages, are made aware of the opportunity available to them.
I am very conscious of the critical issue of housing affordability and in this regard, the targeted review of Rebuilding Ireland which has just commenced will be focussing in particular on the broad issue of housing affordability and access.
In terms of housing affordability, a suite of measures have been taken to make housing construction viable at more affordable price points, which is important in bridging the affordability gap between price and the level of mortgage funding that a household can service. The measures taken include the €226m local infrastructure housing activation fund; leveraging the value of State-owned lands to deliver a more affordable rental offering in Rent Pressure Zones; streamlined planning systems for housing developments; and other planning reforms to provide flexibility to deliver viable housing schemes and apartment developments in the right locations.
On 27 April 2017, details of some 1,700 hectares of land in local authority and housing agency ownership were published on the Rebuilding Ireland Housing Land Map, with the potential to deliver 42,500 homes nationally. All local authorities have been requested to prepare Strategic Development and Management Plans for the earliest possible development of their lands. The final model for each site will be formulated in the context of the Plans but in practice, it will include proposals for social housing and housing at more affordable prices and rents. I have asked that local authorities complete the preparation of their plans by 30 September.
