Cian O'Callaghan (Dublin Bay North, Social Democrats) | Oireachtas source

Regarding amendments Nos. 39 and 90, Deputy Ó Broin has put forward quite well the case as to how if public land is ceded to private developers, it increases its cost. The latter means that fewer people can access housing that is affordable for either rent or purchase and that obviously locks them out in terms of affordability. It also creates a housing supply issue because if we rely on the private delivery of housing and private developers, they will develop land - and this is not just in Ireland but anywhere - at a pace at which they can achieve the kinds of full market prices they are looking for. That means a drip feed of development over time. For example, one of the largest developers in the country, to which the lands in Donabate have been effectively sold, has enough land for 17,000 homes, according to the developer itself, and, according to that same developer, will build just 1,200 this year. Therefore, when it comes to land banks, yes, there is an issue with State lands, but there are also issues with private developers, how they hold land and how that fits the market prices they try to achieve. As for the Land Development Agency, it is very important that we try not only to break that method of delivery at full market price and the slow delivery that goes with it but also to ensure a faster delivery of affordable homes.

Amendment No. 93, which is in the name of Deputy Pringle but which he has asked me to move, relates specifically to investment funds and seeks that the Land Development Agency not be permitted to allow private investment funds purchase land, developments or housing from the agency. That is a very important amendment and I am happy to support it.