Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

-----the national development plan. To go through some of the numbers, last year almost 33,000 homes were built. Just under 12,000 new social homes were delivered last year, up from about 10,200 the previous year. In 2023, there were more than 8,000 new-build social homes, there were more than 1,800 acquisitions and 2,000 were delivered through leasing programmes. More than 4,000 affordable housing supports were delivered in 2023 via approved housing bodies, AHBs, local authorities, the Land Development Agency, LDA, the first home scheme, cost rental, the tenant in situ scheme, the vacant property refurbishment grant and so on. We can see the scale of what is being done and the progress in terms of output. This delivery of social homes is the highest annual output of social homes in decades and the highest level of new-build social housing since 1975. When the housing assistance payment, HAP, is added in, at more than 8,200 units, as well as the rental accommodation scheme, almost 22,000 new social housing supports were delivered in 2023.

The point I am making is that we will need capital from many different sources, including direct Exchequer capital. I already referenced the work of ISIF. It can play an important role. I referenced the funding capacity of up to €5 billion within the Land Development Agency, which is about delivering social and affordable homes. Taking my home city of Cork as an example, an apartment scheme has just commenced construction on the quays. It is the first major apartment scheme since the Elysian was built in 2008. It will involve properties for sale using Croí Cónaithe as well as social homes and cost rental. However, much of that does not appear on the direct Exchequer capital; it is through the work of the LDA as well. That has to be acknowledged. One cannot just measure the level of ambition we have through the provision in the housing Vote in the direct Exchequer capital. We have the work of the LDA and the Housing Finance Agency, which has significant lending capacity into the sector as well. I already mentioned HBFI. We have a range of different actors. We will need international capital to build 40,000 homes and, ultimately, if we are moving towards building 50,000 homes. We also have to reform and pass the planning legislation. We have to work with our councils in respect of zoned land and we have to make sure Uisce Éireann is properly funded so it can service the land in the years ahead. I am satisfied that we are significantly increasing the overall level of capital for the delivery of housing, and I believe that it will continue.