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

Affordability and the chance to own your own home are at the heart of this Government’s housing policy. Since 2021, over 8,500 housing supports have been delivered through the various measures we have established and are implementing with our delivery partners.

Since the launch of Housing for All, close to 1,000 local authority affordable purchase homes at upfront affordable prices have been provided. The pipeline continues to grow because over 3,100 affordable purchase homes have been approved for funding support across 21 local authority areas. The upfront price that purchasers availing of the local authority affordable purchase scheme pay for their new home is based on their purchasing power and means. The affordability gap between the market value of the home and the upfront price sets the size of the equity stake held by the local authority, generally redeemable at a time of the purchaser's choosing.

Operating under similar principles, the first home scheme is a further key support for first-time buyers. The published report for the scheme for quarter 3 of this year shows that more than 5,560 approvals have issued since its launch in 2022. I remind the Deputy that this is a scheme he would abolish, that is actually helping first-time buyers to purchase their home. Together with the Croí Cónaithe towns schemes and the help-to-buy scheme, these affordable purchase measures are seeing high demand and are proving highly effective in addressing the affordability challenges so many people are facing. We recognise that. We have made progress but challenges remain. These schemes are working. The prices are transparent. The equity stake is absolutely transparent. We are building that pipeline across the country, an affordable scheme that works, not an illusion of home ownership that you have put forward in your alternative plan.

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