Brendan Howlin (Wexford, Labour)
Link to this: Individually | In context

Question 414: To ask the Minister for the Environment, Heritage and Local Government his views on the fact that as many properties are unsaleable in current market conditions, their real value at the moment is no more than the rental income which they generate; if he will amend the means assessment formula to take account of this reality; and if he will make a statement on the matter. [37154/10]

Michael Finneran (Roscommon-South Leitrim, Fianna Fail)
Link to this: Individually | In context

The timing mismatch between the collapse in demand for housing and the less rapid slowing of construction output has led to a situation in which there is now an overhang of vacant, unsold property.

It is our intention to meet the accommodation needs of as many households as possible within the resources at our disposal. Oversupply of housing is a key factor in that regard, and there is potential to make economic necessity and the response to social need work in tandem by utilising unsold housing stock to accommodate families in need of social housing support.

In the context of rising social housing need, the priority must be to maximise delivery of social housing to cater for the greatest level of need at good value. The restructuring of the social housing investment programme to allow for a greater role for the Rental Accommodation Scheme and leasing offer the most effective and efficient response to both market realities and housing need, taking account of the resources available, current market conditions, and the need for a broader range of more flexible delivery mechanisms based on the life-cycle approach as set out in the Government's housing policy statement, Delivering Homes: Sustaining Communities.