Dáil Éireann Debate, Thursday - 3 March 2022
289. Deputy Bernard J. Durkan asked the Minister for Housing, Local Government and Heritage the degree to which his Department continues to monitor house price inflation; the action that is in-hand or likely to be taken to address the issue; and if he will make a statement on the matter. [12301/22]
Amharc ar fhreagra290. Deputy Bernard J. Durkan asked the Minister for Housing, Local Government and Heritage the action in hand to discourage house price increases that currently make it difficult or impossible for first-time house buyers to build or acquire a home of their own; and if he will make a statement on the matter. [12302/22]
Amharc ar fhreagraI propose to take Questions Nos. 289 and 290 together.
Housing for All is the Government’s plan to increase the supply of housing over the next decade. Greater supply will be key to meeting demand, helping moderate property price increases, and addressing affordability pressures facing renters, homeowners and potential buyers in the coming years.
Housing for All includes unprecedented direct investment in social and affordable housing, reforms to ensure availability of land, removal of obstacles to and supporting viability of development, and ensuring there is sufficient investment and capacity to support construction. The plan also commits to reducing the cost of construction.
Recent analysis by the Society of Chartered Surveyors Ireland indicates that construction build costs account for c.47% of total apartment development costs. These have risen considerably over recent years through a combination of the increased cost of regulatory compliance and general increases in labour and materials costs. As a result, new-builds, especially apartments, are beyond the reach of many first-time buyers. Improved productivity in construction will help address this imbalance.
Housing For All commits the State to a more central role in leading and funding structures to ensure levels of productivity and innovation materialise. The most recent Progress Report for Housing for All (Q4 2021) provides an update on the significant progress being made on delivering this integrated set of policies, as well as on the considerable level of collaboration across Government, the actions being taken to increase capacity and efficiency of delivery of both public and private sectors, and the continued collaborative engagement with the construction sector and other important stakeholders, who are pivotal to its success.
The Progress Report is available at: www.gov.ie/en/publication/84e61-housing-for-all-q4-2021-progress-report/.
