After more than a decade of undersupply in housing, the dial is turning, and Fianna Fáil has got Ireland back building again.
Having introduced the most comprehensive affordable housing legislation in the history of the State which underpins the schemes that are now delivering, Fianna Fáil have set out the Party’s plans to take affordable housing delivery further.
An annual average of 10,000 affordable homes will be delivered through Local Authority, AHB and LDA delivery and through the First Home Scheme and through the vacancy grants.
Commenting Minister O’Brien said, “Starting from a base of zero in 2022, by the end of this year more than 12,000 affordable homes will have been delivered and there are thousands more in the pipeline.
“Fianna Fáil believes in home ownership and we will continue to support families and individuals so that they can purchase their own homes at prices they can afford.
“We will do this through an extension of the First Home ‘Bridge the Gap’ Scheme, where the State and participating banks pay up to 30% of the market value of your new home in return for a stake in the home. Already more than 5,700 homebuyers have availed of the scheme in just two years.
“We will also firmly protect the Help to Buy Scheme which is your own tax back in your pocket. It’s tax refund of up to €30,000 which can be used for your deposit on a new home.
“We will increase the Vacant and Derelict Property Refurbishment Grants by €10,000 for homebuyers and homeowners to refurbish a vacant or derelict property and turn it into a home.
“We will continue to scale up the Local Authority Affordable Purchase Schemes so that they can be made available to buyers at rates which are significantly discounted.
“We will invest in the Local Authority Home Loan and Local Authority Purchase and Renovation Loanto ensure that buyers all across the country can avail of these State backed mortgages.
“For those who wish to rent in an affordable, secure and long-term arrangement we will step up the delivery of Affordable Cost Rental homes which are not driven by profits and are a minimum 25% below local market rates. More than 2,000 individuals and families are already living in affordable cost rental homes with a current pipeline of 8,500 more.
“We know that for far too many the price of homes, whether to purchase or rent, are still out of reach. But Fianna Fáil in Government are committed to protecting and enhancing the tried and tested solutions which have helped thousands already and will help thousands more,” he concluded.
ENDS
CLANRYE NEWS 