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Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (17 Jun 2025)

Pat Casey: Moving to the capital side of it, how can this country attract the additional capital investment that is badly needed? Was the CPI proposal from the Government this week a positive move in attracting inward investment in apartment building?

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (17 Jun 2025)

Pat Casey: I do not have time to expand on this but the witnesses said there has been a complete fall-off in build to rent. What has caused that and how can we get it back?

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (17 Jun 2025)

Pat Casey: Okay. I will probably come back in the next round.

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (17 Jun 2025)

Pat Casey: I hope I picked up what Mr. Coleman said correctly. Did he say that the LDA's capital funding is not an issue for it in the short to medium term? Was I correct in-----

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (17 Jun 2025)

Pat Casey: I wanted to check that I heard correctly that capital is not an issue. I see the Housing Agency's delivery last year, simply in cost rental, has been quite significant at more than 6,000. Has it the funding in place to do additional cost rental at the moment?

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (17 Jun 2025)

Pat Casey: Is Mr. Baneham indicating that the funding envelope has tightened a bit?

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (17 Jun 2025)

Pat Casey: I only have 18 seconds. I fully agree with what was said about capital. Fifty-eight per cent of €20 billion is almost €12 billion. The State cannot sustain that on an ongoing basis. We have to attract private investment. What is very frustrating is that we are sitting on €166 billion in deposit accounts in Ireland that we cannot unlock. There is a narrative out...

Seanad: Insurance Reform: Motion (10 Jun 2025)

Pat Casey: I welcome the Minister of State to what is a very important debate on insurance. Fianna Fáil welcomes this debate on insurance and will be supporting the motion. In Government, we are committed to tackling insurance costs to reform and ensure fair competition in all sectors. Since 2020, we have delivered a series of reforms under the action plan for insurance reform. While...

Seanad: Ireland's Economic Outlook: Statements (28 May 2025)

Pat Casey: I welcome the Minister to the Seanad Chamber. He has always made himself available to the House. I welcome the opportunity to discuss Ireland's economic outlook. We are at a critical juncture for our economy and global trade. It is essential that we approach these challenges from a position of strength and resilience. Over the past few years, Ireland has demonstrated remarkable...

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: I thank both organisations for their presentations today. They identified that a number of pillars need to be sorted in regard to housing. No one pillar is actually functioning as it should. I will run through them quickly. One relates to zoned land. I was on the housing committee when we adopted the last national planning framework. Personally, I had several arguments with Niall Cussen...

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: In regard to infrastructure, while we want to align with the national planning framework policy, I believe we need to zone land out beyond 2040 so that we know where we want housing built and can align the correct infrastructure with that. What is the witnesses' view on that?

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: In regard to planning, is it now time to introduce time-bound decisions in relation to Irish Water and the ESB?

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: I am trying to focus on things we can change immediately to try to improve all aspects of it. On the financing side, because financing is a critical part of it, we need both sides of it. We need demand, otherwise there would be no supply and we need supply to equal the demand. There is a deficiency in relation to private or capital investment in housing. Can we do more in this space to...

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: Briefly, on the demand side----

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: There are two main schemes, help to buy and first home shared equity. The latter is not a grant, by the way, but is a debt that has to be repaid. Is there scope under the rent to own scheme to help in the context of apartments, so that there is somebody at the end of the line to buy them? Is there anything in that space?

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: Bringing them both together, I suppose, is the thing.

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: I mentioned earlier that anybody with a brain in their head would have seen what was going to happen last year whereby, when an incentive was coming to an end, there was always going to be a surge in commencements, and that is reflecting what is happening. There is also uncertainty out there relating to Government policy. Is that also preventing commencements happening? Might there be hope...

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: I will move on to the rental sector, because I did not mention it earlier. I was surprised that 60% of tenants had experienced no rent increase. Were the witnesses surprised by that?

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: Regarding upcoming legislation for the rental sector, what are the ESRI's views on the short-term letting legislation as proposed and how will it impact on the rental sector?

Joint Oireachtas Committee on Housing, Local Government and Heritage: Challenges Relating to the Delivery of Housing: Discussion (Resumed) (27 May 2025)

Pat Casey: On the issue of apartments, financing and supply and demand, we need to try to find a balance. Clearly, the help-to-buy and first-home schemes are not applicable in Dublin because the properties are above €500,000 in value. They do not have a role there. Institutional investors will all want to know whether we can apply a scheme for renting homes to try to help that side of it....

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