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Dáil Éireann díospóireacht -
Wednesday, 26 Nov 2003

Vol. 575 No. 4

Written Answers. - House Prices.

Bernard J. Durkan

Ceist:

67 Mr. Durkan asked the Minister for the Environment Heritage and Local Government the extent to which he expects the needs of first-time home buyers and housing applicants to be met in the next 12 months, having particular regard to market conditions and supply and demand; and if he will make a statement on the matter. [28422/03]

The Government's strategy is to increase housing supply to meet demand and to improve affordability, particularly for first-time buyers.

The measures introduced by this Government to boost supply, including significant investment in infrastructure, improving planning capacity and promoting increased residential densities, are having effect. 2002 was the eighth successive year of record house completions, with 57,695 units completed, an increase in output of 9.7% on 2001 and a more than 30% increase in the housing output in the Dublin area. This positive trend in supply has continued into this year, with statistics showing that overall house completions for the first six months were up 16.5% on the same period last year. Indicative data available to the Department shows that first-time buyers continue to have a significant presence in the housing market.

The Government will continue to focus on measures to maintain a high level of housing supply. The investment in the servicing of land has led to a strong stock of land available for residential development. This combined with the growth in registration of new construction with the house guarantee companies this year augurs well for future supply.

At the same time, Government interventions have boosted the supply of affordable housing under targeted schemes for low and middle-income purchasers. I anticipate that the numbers benefiting from affordable housing will further increase next year as more affordable housing comes on stream as a result of agreements under Part V of the Planning and Development Act 2000, as amended. In overall terms, the housing needs of over 12,000 households on average will be met over the period 2002 to 2004, compared to almost 8,500 in 1998.

Question No. 68 answered with Question No. 49.

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