Bailey Calls On Govt To Create New Range Of 'Affordable' Housing Schemes

Fine Gael TD Maria Bailey has called on the government to create a range of 'affordable' housing schemes to help get families, couples and individuals onto the property ladder.

The Dun Laoghaire TD said she wants to see a broad range of options created in the rental and purchase sector, which will be provided to first time buyers under a new scheme to be delivered on State owned and private lands.

New figures have revealed in the 12 month period to end June 2017, planning permissions for 19,246 homes were granted (up 49% year on year) while commencement notices for 17,151 new homes nationwide were submitted in the twelve month period to end October 2017, an increase of 37% year on year.

In addition, 772 sites nationwide are being developed/in the pipeline for social housing, resulting in 13,000 new homes.

Deputy Bailey said: "Nationwide, there are over 700 State owned sites that have been identified and can be used for future homes. Some may require additional infrastructure to service the site. There are two key elements to my proposal: 'Affordable Purchase' and 'Affordable Rent to Buy.


"In terms of 'Affordable Purchase', homes can be delivered on State owned land thus reducing the cost of build through public-private partnerships or direct build as part of mixed tenure where appropriate. Local authorities would establish a scheme tailored for their area. People would apply to their council once they qualify through their income level which I would expect to be determined by Government.

"With 'Affordable Rent to Buy', where rent from a home has been collected over a certain period of time by the local authority from council properties, the option would be in place to purchase homes under 'Rent to Buy' criteria for successful applicants. A credit would be applied for the rent paid to date and reduced from the overall sale price. The balance is then repayable by mortgage which is provided by a financial institution."

Deputy Bailey said a scheme similar to 'Affordable Rent to Buy' is already in operation in Shanganagh Castle in Shankill, Dublin 18.

"In this scheme, there will be approximately 200 social homes and apartments and 340 affordable homes (200 affordable homes and 140 rent to buy)," she continued.

"Such a scheme could be replicated in various sizes on State owned land where there is a demand.

"This is an opportune moment for Government and local authorities to come forward with affordable schemes which will assist more people in their pursuit of owning a home. This could be delivered in consultation with various stakeholders within the sector to drive delivery.

"Recognising the pressures that many households face in paying rents or saving to purchase their house, it is timely that the government bring forward new and innovative measures to work alongside existing schemes."

(LM/MH)