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Housing Data

Dáil Éireann Debate, Tuesday - 17 April 2018

Tuesday, 17 April 2018

Ceisteanna (1624)

Darragh O'Brien

Ceist:

1624. Deputy Darragh O'Brien asked the Minister for Housing, Planning and Local Government the expected number of affordable homes under the Rebuilding Ireland home loan scheme to be completed in 2018; the number completed to date; and if he will make a statement on the matter. [16632/18]

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Freagraí scríofa

The new Rebuilding Ireland Home Loan is designed to enable credit-worthy first-time buyers to access sustainable mortgage lending to purchase new or second-hand properties in a suitable price range. The scheme is targeted at first-time buyers who have access to an adequate deposit and have the capacity to repay a mortgage, but who are unable to access a mortgage sufficient for them to purchase their first home.

Other aspects of the Rebuilding Ireland Action Plan for Housing and Homelessness are more directly designed to address the delivery of more affordable homes. This is a major priority for Government, focusing in particular on the cities of Dublin, Galway and Cork, where people are facing the greatest affordability challenge. In addition to ramping up supply of new homes to meet demand across all tenures, it is also intended that increased delivery of homes at more affordable prices will involve local authorities developing their own residential land bank, comprising some 1,700 hectares, to its full potential.

I am providing Exchequer funding of €25 million, over 2018 and 2019, as a key contribution towards the delivery of more affordable housing, through the provision of on-site infrastructure to help reduce overall costs. A second tranche of the Local Infrastructure Housing Activation Fund (LIHAF) with a total public fund of €67m, will also help fund enabling works for strategically located sites with an appropriate cost reduction on new homes facilitated.

I expect that in the region of 3,000 new affordable homes can be made available through a range of schemes and initiatives, with the long-term ambition for some 10,000 additional affordable homes to be provided for sale or rent, as these and other affordable initiatives are rolled out.

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