Phil Hogan (Carlow-Kilkenny, Fine Gael)

On 16 June 2011, I launched the Government's new housing policy statement which will serve as a framework for a sequence of legislative and policy initiatives in the short to medium term. Based on a number of fundamental principles and goals that will form the foundation of a substantial reform programme, the new framework for housing policy responds to current and emerging conditions in the housing sector and takes account of the dramatic cycle of rapid growth and sudden collapse in the residential property market. The centrepiece of the approach is to chart a way forward for housing policy in Ireland by placing greater emphasis on choice, equity across housing tenures and delivering quality outcomes for the resources invested.

There is clear potential, across a range of housing programmes, for the Government's policy objective of sourcing and providing suitable residential units for use as social housing to be aligned with the commercial objectives of the National Asset Management Agency, NAMA. My Department and I have been engaging directly with NAMA to discuss options for bringing unsold suitable residential stock controlled by it into productive use for social housing purposes. The first scheme of this nature, with property held by NAMA being purchased by an approved housing body through loan finance from the Housing Finance Agency, HFA, was launched in July 2011. Other proposals are currently being examined. I again met the chairman and CEO of NAMA to encourage them further to become involved in leasing options as well as the sale of units.

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