Oireachtas Joint and Select Committees

Thursday, 3 March 2022

Public Accounts Committee

2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020

9:30 am

Ms Dara Deering:

The Chairman is absolutely right in that when we were set up, the greatest level of demand was to be outside the main urban areas and for small and medium-sized units, but actually the unit number was set at ten and above. Therefore, the first product as per the table was the one regarding which we expected to see the greatest level of demand. One of the first things we did was a review of the marketplace. We actually felt there would also be demand for the smaller schemes, those with fewer than ten units. The Chairman is absolutely right in that, at the time, at the end of 2020, these accounted for six facilities. However, if I consider what constitutes small and medium under a scheme, I note it is not just fewer than ten units. That criterion did not even exist when we launched. Of the schemes we have approved, more than 65% have fewer than 50 units. Those are more akin to those associated with the demand we see outside Dublin.