Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

When you look at value, €378,000 is very high when we are talking about affordable homes. That is the point I am trying to make. The prices are still coming in high.

The opening statement was informative. The committee sometimes hears opening statements that are not very informative. In his opening statement, Mr. Coleman said, "The average rent for an LDA-provided home is currently €1,350 per month while the average rent on the open market for new-to-market homes €2,395 per month in Dublin." I am not an expert, but many rents in the Dublin region would be over €2,000. At nearly €2,400 per month, we are talking about the upper end of the market. We need to accept that. In Citywest, the average cost rental is €1,350. I know Mr. Coleman wants to talk about that and I am interested. How do we have a model that brings the best value that the LDA can deliver and that will require the smallest amount of borrowing? We want people to be able to rent properties at the best price they can and, I hope, be able to recover the cost over that 30-year period to backfill the investment. In Citywest, the cost is nearly €1,800.

You are saying the average rent for LDA homes is €1,350. Was Citywest very expensive?