Dáil Éireann Debate, Tuesday - 4 October 2022
288. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage if he will provide a breakdown of the 5,550 affordable homes referred to in page 122 of the Budget 2023 Budget Book by type including Affordable Housing Fund, Cost Rental Equity Loan, LDA, Shared Equity Loan and any other delivery stream. [48293/22]
View answerUnder Housing for All, the Government will deliver 54,000 affordable homes between now and 2030, to be facilitated by local authorities, Approved Housing Bodies (s), the Land Development Agency (LDA) and through the First Home Scheme. Government has signalled that homes will be provided broadly on a 2:1 affordable purchase to cost rental basis over the course of the plan.
I can confirm that page 123 of the Budget 2023 Expenditure Report provides a breakdown of the 5,550 affordable homes referred to on page 122 of the report.
- Building on the State funding already provided to the First Home Shared Equity Scheme, a further €50 million will support First Home, which, with additional funding from participating banks, will support the purchase of up to 2,000 homes by eligible buyers.
- More than 2,800 homes will be delivered for affordable purchase and cost rental, through both LDA investment and with funding of €90 million via the Affordable Housing Fund in 2023 to support delivery by local authorities.
- In addition, s will deliver 750 Cost Rental homes - these homes will be delivered via €75 million provided in the Cost Rental Equity Loan (CREL) mechanism.
It is also noted that €250 million will be available in 2023 for lending under the expanded Local Authority Home Loan, which provides a route to home ownership for those who cannot secure the necessary commercial loan.
