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Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: Ms Deering is very welcome. As detailed in the letter of invitation, she has five minutes to read her statement, which is fairly concise.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: The first member to speak is Deputy McAuliffe who has 15 minutes.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: I thank the Deputy.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: I call Deputy Munster.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: As some Deputies are not yet available, I call Deputy Verona Murphy.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: I will let the Deputy in for a second round of questions. I call Deputy Colm Burke.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: Could we get the figures again for the rental costs?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: What were the figures for one, two and three-bedroom properties? Please specify whether they are for houses or apartments.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: Did Mr. Alger say €3,100?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: Is that solely in Dublin or is that an average cost?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: These are all Dublin-based rents.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: Before we take a break - I think we need one after hearing that - I have one more question. Has there been any analysis of the actual cost of building these three-bed apartments? The cost of building something is made up of the cost of land - and apartments are stacked higher so you do not need as much land - and then labour and materials. There are ancillary costs, such as legal,...

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: Briefly.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: What are they?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: Is that €250,000 all in?

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: There are houses being built a lot cheaper than that.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: Rent of between €720 and €740 per week-----

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: -----is totally unaffordable for most of the people who live on this island.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: We will break for ten minutes.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020
(3 Mar 2022)

Brian Stanley: A few members are tied up with parliamentary duties, including Deputies Dillon, Devlin and O'Connor. I have a few questions on the loans to builders and developers. What is the largest loan that the HBFI has provided?

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