Dáil Éireann Debate, Wednesday - 18 May 2022
79. Deputy Seán Haughey asked the Minister for Housing, Local Government and Heritage when applications for the new affordable purchase shared equity scheme can be made in the local authorities; and if he will make a statement on the matter. [25104/22]
Amharc ar fhreagraI have signed two sets of Regulations which underpin the Local Authority Affordable Purchase Scheme, made under the provisions of the Affordable Housing Act 2021, which came into effect on 13 April 2022. The Regulations provide the basis for the making available of affordable purchase homes by local authorities and the administration of sales.
The Affordable Housing Regulations 2022 deal with the assessment of income/means as part of eligibility for an Affordable Dwelling Purchase Arrangement. The text of these Regulations is available online at:
www.irishstatutebook.ie/eli/2022/si/183/made/en/print.
The Affordable Housing (No. 2) Regulations 2022 prescribe, among other things, the notification of affordable dwelling schemes to the public, the use by Local Authorities of schemes of priority, the calculation of home purchase prices and the equity shares to be taken by the Local Authority, and the minimum payment for a homeowner redeeming the Local Authority's equity interest. The text of these Regulations is available online at:
www.irishstatutebook.ie/eli/2022/si/184/made/en/print.
The relevant provisions of the Regulations require that details of homes being made available by local authorities under the Affordable Purchase Scheme will be advertised at least two weeks in advance home sales, with an application period given of at least three weeks after the initial advertised notification.
Local Authority Affordable Purchase homes supported by the Affordable Housing Fund will be made available shortly at Boherboy Road in Cork City, with 22 two- and three-bed dwellings to be delivered at from €218,000 to €243,000, with a further 15 units completed by year end. Cork City Council have also indicated that they will deliver 36 Affordable Purchase homes in Cluain Chaoin, Tower in two phases this year.
39 Affordable Purchase homes will also be delivered at Dun Emer in Lusk, Co Dublin by Fingal County Council in two phases this year. These two- and three-bed dwellings are expected to be delivered at an average discount of 25% on market values, ranging in price from €166,000 to €258,000.
In addition, South Dublin County Council recently advertised 16 Affordable Purchase homes in Kilcarbery Grange, Clondalkin all to be delivered this year, which will priced from between €245,600 and €285,300.
Waterford City and County Council also expect to deliver Affordable Purchase homes at a development in Mount Neil, Carrickphierish by the end of 2022. In addition, a further development at Summerfields, Kilbarry is expected to deliver its first phase in 2022. A pipeline of affordable housing delivery is being developed by local authorities with nine schemes expected to go on site in 2022.
In addition to the Local Authority Affordable Purchase Scheme, Part 4 of the Affordable Housing Act 2021 provides for the establishment of the First Home Scheme to support purchases in the private market. The First Home Scheme will help applicants to afford new homes in the private market through the use of an equity share model, similar to that employed in Local Authority Affordable Purchase Scheme. The scheme aims to support the purchase of c. 8,000 new homes in the private market in the years 2022 to 2026. First Home will only support purchases of homes within regional price ceilings, set with reference to the median prices for new homes purchased by first-time buyers in the area. It is anticipated that the scheme will be rolled out over the coming months.
As affordable housing programmes are rolled out, additional affordable housing delivery will be facilitated through the expanded 20% Part V planning requirement, and through the Land Development Agency.
