Darragh O'Brien (Dublin Fingal, Fianna Fail) | Oireachtas source

The measures I have brought forward in the Affordable Housing Bill and housing for all are supply side measures because we need to get supply up to at least an average of 33,000 per year. Last year, there were just over 20,000 completions. This year, on the best projections we have so far, there will probably be up to 18,000. The reality is that when the market, production and capacity are constrained, there is additional pressure on the second-hand homes market in particular. The Deputy referred to the bidding war relating to the house in Rathmines, which I watched myself. The bids are approximately €500,000 over the original asking price. That is not sustainable and is not something I want to see but we are in an unusual position where we are coming through post Covid and are building up capacity in the sector. There are also some cost implications and cost increases in materials and labour that I hope will be temporary.

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