Micheál Carrigy (Longford-Westmeath, Fine Gael)

We have 15 minutes to go and four speakers remaining, including me. I will cut my time to a few minutes and I will give everyone a chance to get in. There are a couple of issues. I am glad of the comments about 100% mortgages. That needs to be put out there, although we need to look at some sort of support for those who have been paying higher rent and have been shown to be able to pay it over a significant period. We cannot go back to the days we were at before.

On the finance end of things - the witnesses may correct me if I am wrong - the figures for 2024 show the two main pillar banks, AIB and Bank of Ireland, only lent a figure of €1.5 billion towards housing. Dividing that by €300,000 per house, on average, that is only 5,000 houses. I spoke to people in the building industry regarding the cost of finance. They told me the average they have to pay to get money, if they can get it, to proceed with a development is in the region of 11% or 12%. The banks that were bailed out by the State and the taxpayer are not lending, and we have a housing crisis. They are lending to other institutions that are lending then. That is putting up the price of housing because two institutions have to make a profit on the same money. I would like the witnesses' comments on that.

The first home scheme was mentioned. I come from County Longford. In 2008 and 2009 we were left with 124 unfinished estates after section 23. We were probably one of the counties most blighted at the end of that. There has not been a private housing development in Longford since 2008. No couple seeking to avail of the first home scheme in County Longford can avail of it. I am sure there are other areas like that. I ask the witnesses to comment on that.

Other countries were mentioned. My brother lives in Germany. The town or the state there puts in the road infrastructure and the serviced sites ready for developing and building. You buy your site and build your house. I do not believe enough local authorities are doing that in this country, whereby we have funding schemes in place for serviced sites and we are not actually doing it.

In regard to the ESRI's remarks on adopting modern methods of construction, we have companies in this country that are exporting abroad. There are packaged treatment plants and bathroom modules being exported to England. We have steel-frame building and timber-frame building and we are not availing of them. There are quicker methods of getting houses up. A few comments on those points would be welcome.