Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

Under the affordable purchase scheme, we have already identified land and finance for at least 3,000 homes. At the housing summit we had with local authorities last Monday, I talked about our ambition for reaching 10,000 under the affordable purchase scheme, which is achievable because of the way it has been set up. By taking an equity stake, when the home is sold or part of the equity is paid back, that money will go into a rolling fund for more affordable purchase homes. I have asked each local authority chief executive to look at the land banks they have and to see what proportion of that land can be developed for affordable schemes, bearing in mind our commitment to mixed development - social, affordable and private. I think there are about 135 ha in Kildare where we have identified the potential for building social, affordable and perhaps some private homes as well. I have asked the local authority chief executive to come back on that front.

There is obviously going to be high demand for this. It is important, going back to 2007, to remember that was the only year that Part V delivered more than 3,000 homes across the country. That was a year in which we were building more than 70,000 homes. As we rebuild our construction industry and rebuild homes here, we are going to have the affordable purchase scheme. It will come on line to a greater extent as we are building more homes each year. The first affordable purchase scheme homes will begin construction towards the end of this year. I have asked some local authorities in areas of particularly high interest to identify a piece of land that is serviced and has planning and to consider whether, if they use rapid technologies, we could actually have some affordable purchase schemes this year. I think it is possible. We are going to try to achieve it.

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