Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The Deputy raised the question of affordability in the area of housing. The Government is now putting in place an affordable housing scheme. Until now, such a scheme did not exist. Through the co-operation of the House, hopefully, we are enacting legislation that will provide an affordable housing scheme in this country that will be of benefit to thousands of individuals and couples who want to buy their first homes. In addition we are starting the delivery of cost rental homes with units coming on-stream later this year. We have the serviced sites fund. It is up and running with funding of €310 million. The Minister for Housing, Local Government and Heritage, Deputy O'Brien, is enacting provisions to provide for a shared equity scheme.

In addition, we have the Land Development Agency. Once it is underpinned by legislation it will benefit from investment through the Ireland Strategic Investment Fund and this can greatly assist in the delivery of social and affordable, cost rental and affordable purchase homes throughout the country, especially in our cities. Its role could be significant and I look forward to seeing it deliver on the potential that I know it has.

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