Joan Collins (Dublin South Central, Independents 4 Change) | Oireachtas source

I note that the Minister, Deputy Darragh O'Brien, is in the Seanad at present. That is probably why he is not here in the Chamber. I am aware the Minister of State played a role in the Rebuilding Ireland scheme and he was the Minister of State in the then Department of Housing, Planning and Local Government in the last Dáil, so he would be fairly clued in to this issue.

The cost-rental housing plan for the site at Emmet Road, formerly St. Michael's Estate, is due to go for planning in the first quarter of next year, so it is fairly imminent. This is a pivotal project in setting the terms and conditions for other such projects in the future given its scale and scope. Clarification and reiteration of previous commitments from Ministers and Dublin City Council that rents for housing in this project will be related to income rather than to the market rate are urgently needed. In early 2019 the campaign for housing on St. Michael's Estate organised a meeting with Vincent Browne, to which Deputies were invited, and put forward the cost-rental model. It explained what it is based on. It is for people whose income exceeds the limit to be eligible for council housing but who do not have enough income to build a nest egg to get a mortgage. This is really pivotal for the community. As has been mentioned before, it will be a game-changer if it works.

The residents and activists in the area have been going to the design meetings in respect of the size of the apartments and the storage and balconies they will have. The architects do not seem to know how much money they will have to build the units and so cannot design around those funds. The activists had a meeting with all four Dublin South-Central Deputies last Thursday and asked us to put down a question to find out exactly what is going on. The other Deputies did not get their questions in on time this morning but do support the residents in looking for this information.

It is really important that the Government is clear with the community as to what we are talking about. Rents of €1,300, or €1,500 for two-bedroom units, are not affordable for people on incomes of €35,000, €45,000 or €50,000. It is just not possible to pay such rents on those incomes. Under its Housing for All plan, the cost-rental model was recognised as a form of housing. What regulations are now being brought in to deliver cost-rental housing? The European Investment Bank committed to €100 million back in 2018. What is the figure now?

We know from the report issued today that housing costs are increasing. In Dublin, the average cost to buy a house is now over €430,000. We saw the Daft report last week which showed that rents have gone up all over the country again. They increased by 2.7% year-on-year in Dublin, by 6.9% in Cork, by 8.9% in Limerick and by 10% in Waterford. There is also a lack of rental property. It is really important that the cost-rental model begin to play a key and game-changing role in cities and the country with regard to affordable rents based on income rather than market rent.

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