Oireachtas Joint and Select Committees
Thursday, 20 September 2018
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Home Building Finance Ireland Bill 2018: Committee Stage
10:20 am
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
A property does not need to have a southern aspect or something can be built higher. All of these little changes, including strategic development zone designation, mean that the value will increases. Therefore, the little builder who buys a site is doing so at an inflated cost. It is not viable for a builder to build without charging astronomical prices. A bank in looking at this situation would not believe it added up and many builders are not getting involved because it does not add up. Arguably, even the larger builders are not building. They are just sitting on land because it does not add up to build. The Minister of State is saying this initiative will not resolve that issue and clearly it will not in places such as Dublin. It will only be effective in places where the crisis is not acute. What is the point of that?
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