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

-----because thousands of people are being provided with accommodation in our country as a result of the investment we are making. In addition, we are investing in affordable housing for the first time in well over a decade, including new affordable purchase schemes which Sinn Féin opposed. The Land Development Agency is now on site and is delivering homes for our people, both public housing and cost rental homes. Again, Sinn Féin opposed the establishment of the agency. We also have the help-to-buy scheme, which is there to support first-time buyers whom we acknowledge are struggling in many instances to bridge the gap between the amount they can borrow and the cost of purchasing a new home in Ireland today. Close to 28,000 new homes were built in our country in the 12 months to September 2022. There were almost 21,000 house completions in the first nine months of this year. This is already exceeding the total for 2021, which was approximately 20,500. We are projected to reach more than 26,000 new homes by the end of the year.

We acknowledge there is much work yet to be done but we are working very closely with the local authorities and the approved housing bodies to deliver new homes across the country. We also need the private sector to continue to deliver homes for our people. We will see Part V affordable homes come on stream again, for the first time in a long time, because of the change in the law brought in by the Minister, Deputy Darragh O'Brien.

It is challenging for many people to purchase a home. Many are caught in that rental trap. The Central Bank's macroprudential rules have made some change and will assist people in that regard. I assure the Irish people that tackling the housing challenge is a top priority of this Government. We are providing the investment. It is delivering results. We will double down on that to make more progress for our people.

See this speech in context