Dáil Éireann Debate, Tuesday - 28 September 2021
379. Deputy Bernard J. Durkan asked the Minister for Housing, Local Government and Heritage the degree to which it has been possible to monitor the number of affordable houses coming onto the market by county throughout the next year; and if he will make a statement on the matter. [46756/21]
View answerUnder Action 4.12 of Housing for All, in the period to December 2021 local authorities will be preparing Housing Action Delivery Plans to include social and affordable housing where necessary (affordable purchase and cost rental). This will allow each Local Authority to determine the affordability constraint in their area based on the Housing Need and Demand Assessment.
The Housing for All Strategy delivers on the Programme for Government commitment to put affordability at the heart of the housing system. It is the largest State-led building programme in our history, backed up by an unprecedented financial commitment in excess of €4bn per annum.
At a national level, over 300,000 new homes will be built by the end of 2030, including a projected 90,000 social homes, 36,000 affordable purchase homes and 18,000 cost rental homes. These homes will be provided by Local Authorities, Approved Housing Bodies, the Land Development Agency (LDA), as well as through a strategic partnership between the State and retail banks.
The Housing for All strategy also provides for the 'Local Authority Home Loan', which will be in place later in 2021. The Local Authority Home Loan is a successor to the Rebuilding Ireland Home Loan Scheme, and will include an increase in the income ceiling for single applicants, thus increasing the number of people eligible. From 10 September 2021, I have already implemented a reduction of the mortgage interest rate by 0.25% for new borrowers under the existing Rebuilding Ireland Home Loan (RIHL). This lower rate will also apply to loans issued under the forthcoming Local Authority Home Loan. The Help to Buy scheme is also currently available to help purchasers in accessing newly constructed homes.
