Aengus Ó Snodaigh (Dublin South Central, Sinn Fein) | Oireachtas source

This is an ideologically driven housing policy. Not only are the institutional and investment funds being facilitated by the State, they are being subsidised by it to the tune of more than €860 million per annum. For decades now, Fine Gael and Fianna Fáil have undermined the local authorities and young people's ability to rent, to purchase or to build and to live locally. These institutional landlords are competing with the councils and young couples in trying to purchase homes to ensure that families live locally and can contribute locally. With the say so and support of this Government they are engaged in build-to-rent, which creates transient communities. That is not a sustainable society.

There is so much State land that can be built on, including in my area. Time and again, we have told the Government this. Such is the chaotic state of this Government's policies, in some cases, it has rezoned these lands industrial rather than allow them to be used for housing. These lands need to be built on for the benefit of young families, couples and those who want to rent at an affordable level. It is only then families will have the burden removed from their shoulders. We have to ensure that young people and young working families in Dublin city and elsewhere can afford to put a roof over their heads. That is not the case today. In Dublin 10, which is part of my constituency, there is not one property available to rent today. The situation is not much better in Dublin 12, where there are currently only 19 properties available. The institutional landlords and investment funds are buying up properties, sometimes in lots and other times here and there. I note the Minister is shaking his head. That is a fact whether or not he likes it. I can bring him to places where entire blocks of houses, former local authority, second hand, stock, has been bought up on the market by these funds, which is driving up prices. These properties are then being turned into rental properties which are being subsidised by the Government. That is the scandal and it needs to end.

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