Oireachtas Joint and Select Committees

Tuesday, 22 March 2022

Joint Oireachtas Committee on Housing, Planning and Local Government

Social and Affordable Housing: Discussion

Mr. Jim Baneham:

That is a commitment for the end of quarter 2. We will see and hopefully that will happen. The Deputy had another question on chasing cost inflation. Unfortunately there is inflation in the market one way or the other. To go back to the Senator's point, if we do nothing we will look stupid because people will not be able to buy anything so there is a difficulty in that we have to have a scheme that allows people to buy things.

I would make a broader point about the first homes scheme; what we call the shared equity scheme. That scheme is for a period of time and it is funding for a certain funding envelope. The intention is that it will not be there indefinitely but that it will do a job for a period. The intention is that other actors will have more affordable homes available at that point in time. It should not be something that just keeps going, which is another control on its inflationary effects.

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