Bernard Durkan (Kildare North, Fine Gael)
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380. To ask the Minister for Housing, Planning, and Local Government the degree to which he expects the Housing for All strategy to be implemented fully in the short-term; the number of house buyers who are likely to be facilitated throughout; and if he will make a statement on the matter. [46757/21]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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Housing for All: A New Housing Plan for Ireland is a whole-of-Government plan that will require a deep level of collaboration throughout its lifetime. The implementation of Housing for All has already begun. There are 213 objectives in this plan, all of which will be delivered according to the dates outlined in the plan itself. The first progress report on Q3 2021 actions is currently being prepared for publication.

Not only will there be oversight and direction at the highest level through the Cabinet Committee on Housing (chaired by the Taoiseach), and the Secretary General Delivery Group (chaired by the Department of the Taoiseach), there will also be dedicated Workstreams, led by the relevant Secretaries General, on i) investment, ii) industry capability, and iii) public service delivery. These Workstreams are tasked with drilling down into the priority actions, to identify any blockages, take appropriate action, and ensure a rigorous monitoring system is in place to ensure delivery.

To keep us on track, the actions in Housing for All will be updated on an annual basis, including timelines, to sustain momentum on delivery during the lifetime of the Plan.

Housing for All is a radical plan that sets out four pathways to a sustainable housing system. Affordability and the chance to own a home is at the heart of this government’s housing policy. It recognises that significant new supports are needed so that those who want to own their own home can do so, and that those who wish to rent are able to do so at an affordable rate. Pathway 1 ‘Supporting homeownership and increasing affordability ' addresses this issue and sets out a number of key actions in this regard.

The objective is to supply 300,000 new homes by 2030, meaning an annual average of at least 33,000 homes per year. This includes an average of 10,000 social homes and 6,000 affordable homes made available each year for purchase or rent up to 2030. This will have a dramatic impact on the provision of housing and will significantly help facilitate house buyers.

Specifically, regarding middle-income families wishing to buy homes, Housing for All contains a multi-pronged approach to supply and improving affordability.

The Local Authority Affordable Homes scheme and the First Home scheme are primarily focused on supporting first-time buyers purchasing newly built homes. Both of these schemes will be targeted at households constrained by the maximum mortgage and deposit available to them. The gap between the market value and what the household can afford (including with the assistance of the ‘Help to Buy’ incentive) will be bridged via the provision of equity support. The equity support can subsequently be redeemed at any time at the home-owners discretion, or remain outstanding until the home is sold or passed on.

The Local Authority Home Loan will be expanded, extending its reach and impact, particularly for single people. From 10 September 2021, I have already implemented a reduction of the mortgage interest rate by 0.25% for new borrowers under the existing Rebuilding Ireland Home Loan (RIHL). This lower rate will also apply to loans issued under the forthcoming Local Authority Home Loan. The Help to Buy incentive is also currently available to help purchasers in accessing homes.

In addition, new higher-rate stamp duty measures and planning permission restrictions have been introduced that will minimise the bulk buying of traditional family homes. I also plan to introduce a new form of ‘Owner-Occupier Guarantee’ which will enable Local Authorities to specify a minimum proportion of the houses in a new development for owner occupiers.

The Croí Cónaithe (Cities) Fund will stimulate the activation of some apartment developments for sale to individual purchasers. The Land Development Agency (LDA), through Project Tosaigh, will intervene in slow or stalled developments with landowners in order to unlock and accelerate the delivery of affordable homes.

Housing for All is backed by historic levels of investment with in excess of €20bn through the Exchequer, the LDA and the Housing Finance Agency over the next 5 years. There is a targeted approach right across the country to supply housing where it is needed most. This is supported by updated planning guidance, additional State land provided for housing, and an increase in funding for Local authorities to acquire new land so that they can deliver social and affordable homes at scale. All of this will help create the environment needed to deliver on the objectives in Housing for All.

I am mindful however that projections for delivery will be heavily influenced by COVID-19 related uncertainties in the earlier years of the Plan. These uncertainties will reduce over time as the impact of the pandemic on the housing backlog is fully established and associated construction related constraints diminish. However, ongoing uncertainties associated with raw material costs and availability, and the sector’s capacity to recover, may also impact on delivery but I am confident that Housing for All and the breadth of measures and reforms therein will remove impediments to progress and provide for the much-needed delivery of homes at scale.