Mary Fitzpatrick (Fianna Fail) | Oireachtas source

I want to start by offering my condolences to the family and friends of Liam Payne. It was very sad news overnight and I extend my condolences.

I welcome the update from the Tánaiste and Minister for Defence, Deputy Martin, on the work he and his Department are doing as part of UNIFIL to support our troops deployed in the Middle East and Lebanon. The Minister is working with 16 other countries to ensure they are protected and supported to carry out and complete their peacekeeping tasks. They are providing an important and international service. We are thinking of all the troops and their families at this time. I know it is a very stressful and upsetting time for the families but I hope they are assured that the Tánaiste and Minister for Defence is acting on behalf of Government with our partners in UNIFIL to monitor the situation closely and ensure all steps are taken to protect our brave and courageous troops.

Finally, I wish to speak to, and make reference to the report earlier this week about, the continuing rise of house prices. It is a real concern for anybody trying to get on the property ladder and hoping to own their own home. The report indicates that property prices continue to rise due to a number of factors, such as significant construction inflation. This has been largely caused by the supply-side shortages as a result of the pandemic, the war in Ukraine and Brexit. All these factors contributed to supply-side shortages which increased construction prices. This is an incredibly important point that underlines the need for continuance of Government supports to help people afford their own homes.

The Seanad passed legislation this week to increase funding to the Land Development Agency, LDA, in excess of €6 billion, so that it can use State-owned lands to reduce the cost and provide affordable homes. Very importantly, an extension to the help-to-buy scheme, which is a tax refund of up to €30,000 for first-time buyers to buy their own home, was put in the budget. That is a significant financial support from the State to help first-time buyers buy their own home, as well as the continuance of the first home scheme where we are seeing record numbers of first-time buyers availing of both of those schemes. It is critical that those schemes providing immediate financial support to first-time buyers to buy their own home in an environment where construction costs are driving prices beyond the reach of too many people, are maintained and supported.It is really encouraging to see that the last report from Banking and Payments Federation Ireland showed that in every week in August, more than 650 first-time buyers were approved for a mortgage. That is a very encouraging sign and great news for those 650 individuals and families who secured their mortgage each week in August. We need to continue to support first-time buyers and people who want to own their own homes.