Bertie Ahern (Dublin Central, Fianna Fail)

The Government is very aware that supply, which was the crucifying problem for many years, has reached 80,000 units and is double what anyone believed seven or eight years ago could be achieved. This is having a knock-on effect on affordable housing because supply and demand are becoming more evenly balanced, as are the changes that have been made with regard to stamp duty and other initiatives such as Part V. Although the effects are slow to come through, we are seeing much more now under Part V and the seven or eight other initiatives. The Government is investing much more in social housing. We are also witnessing a much higher proportion of first-time buyers in the affordable housing category and in the overall housing category. The changes made on the mortgage product, which allow loans of 95% of the purchase price of affordable housing, are very helpful to young people who wish to buy their own houses.

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