Bernard Durkan (Kildare North, Fine Gael)
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282. To ask the Minister for Housing, Planning, and Local Government if it is expected that the requirement for a deposit can be waived in cases in which persons living in high-rent properties are having difficulty; and if he will make a statement on the matter. [12294/22]

Bernard Durkan (Kildare North, Fine Gael)
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283. To ask the Minister for Housing, Planning, and Local Government if he will consider waiving most of the deposits required for those in high-rent properties who wish to purchase an affordable home notwithstanding the Housing for All proposals; and if he will make a statement on the matter. [12295/22]

Bernard Durkan (Kildare North, Fine Gael)
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284. To ask the Minister for Housing, Planning, and Local Government the degree to which he can assist those currently on housing waiting lists or awaiting affordable housing throughout the greater Dublin area with particular reference to the need for a deposit given that the local authorities have responsibilities as housing authorities; and if he will make a statement on the matter. [12296/22]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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I propose to take Questions Nos. 282 to 284, inclusive, together.

The Housing for All strategy is the Government’s plan to increase the supply of housing to an average of 33,000 per year over the next decade. Our annual targets include the delivery of 90,000 new social homes and 54,000 new affordable homes in the period 2022-2030. Housing for All is supported by an investment package of over €4bn per annum, through an overall combination of €12bn in direct Exchequer funding, €3.5bn in funding through the Land Development Agency (LDA) and €5bn funding through the Housing Finance Agency and through a strategic partnership between the State and retail banks.

In relation to increased delivery of social homes and the reduction of housing waiting lists, there is a target to build 9,000 new social homes in 2022 and there is a strong pipeline in place to support this delivery. The Social Housing Construction Status Report (CSR) published each quarter provides scheme level detail on social housing new build activity in each local authority, including those delivered by Approved Housing Bodies (AHBs). The most recent report for Quarter 3 2021 shows that there were 9,746 social homes under construction onsite with an additional 9,559 homes at various stages of design and procurement.

Through Housing for All, we are also strengthening the capacity of local authorities to initiate, design, plan, develop and manage housing projects. I approved over 200 new staff for local authority housing delivery teams in December 2021. These posts will increase the capacity of local authorities to initiate, manage and deliver new build housing schemes.

In relation to affordable housing, the Affordable Housing Act 2021, the first ever standalone affordable housing legislation, established a basis for four new affordable housing measures. These measures will deliver on the Programme for Government commitment to put affordability at the heart of the housing system and prioritise the increased supply of affordable homes through (1) delivering affordable homes on local authority lands, (2) the introduction of a new form of tenure in Cost Rental, (3) a First Home shared equity scheme and (4) expanding Part V planning requirements to increase the 10% contribution requirement to 20% and to apply it to cost rental as well as social and affordable housing.

This Act, supported by the unprecedented levels of funding committed to in the Housing for All strategy, averaging over €4 billion annually, will underpin the delivery of affordable housing targets. Specifically, 54,000 affordable homes for purchase or rent will be delivered between now and 2030 by local authorities, Approved Housing Bodies, the Land Development Agency and through the First Home Scheme, a strategic partnership between the State and retail banks.

A Housing Delivery Action Plan currently being prepared by each Local Authority will underpin delivery targets to 2026. Local authorities submitted the first iteration of their plans in December and my officials have now met with each authority. I expect that the final Delivery Action Plans will be published in Q2 and these will contain projected delivery over the years 2022 to 2026.

In relation to deposits, in the first instance deposit requirements are set in line with current mortgage regulations which were introduced and are governed by the Central Bank of Ireland, Any review of the macro prudential rules and first-time buyer regulations are a matter for the Central Bank as an independent body.

The Central Bank referenced these requirements in its recently published Financial Stability Review 2021 II. This report is available at the following link; www.centralbank.ie/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2021-ii.pdf?sfvrsn=4.

In this report, the Central Bank concluded that these limits are reducing systematic financial risk, as well as preventing credit dynamics from increasing house prices further than the levels recently experienced.

The Help-to-Buy incentive helps support first-time buyers in meeting deposit requirements for newly-built houses or apartments, as well as self-build homes, and it can be used in conjunction with the Local Authority Affordable Purchase and First Home schemes. Subject to the level of income tax and DIRT paid over the previous 4 years, the Help-to-Buy scheme provides a maximum benefit to first-time buyers of €30,000 or 10% of the cost of the newly constructed home. The Help-to-Buy scheme has already helped over 30,000 first-time buyers achieve the deposit required for a new home.

Bernard Durkan (Kildare North, Fine Gael)
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289. To ask the Minister for Housing, Planning, and Local Government the degree to which his Department continues to monitor house price inflation; the action that is in-hand or likely to be taken to address the issue; and if he will make a statement on the matter. [12301/22]

Bernard Durkan (Kildare North, Fine Gael)
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290. To ask the Minister for Housing, Planning, and Local Government the action in hand to discourage house price increases that currently make it difficult or impossible for first-time house buyers to build or acquire a home of their own; and if he will make a statement on the matter. [12302/22]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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I propose to take Questions Nos. 289 and 290 together.

Housing for Allis the Government’s plan to increase the supply of housing over the next decade. Greater supply will be key to meeting demand, helping moderate property price increases, and addressing affordability pressures facing renters, homeowners and potential buyers in the coming years.

Housing for All includes unprecedented direct investment in social and affordable housing, reforms to ensure availability of land, removal of obstacles to and supporting viability of development, and ensuring there is sufficient investment and capacity to support construction. The plan also commits to reducing the cost of construction.

Recent analysis by the Society of Chartered Surveyors Ireland indicates that construction build costs account for c.47% of total apartment development costs. These have risen considerably over recent years through a combination of the increased cost of regulatory compliance and general increases in labour and materials costs. As a result, new-builds, especially apartments, are beyond the reach of many first-time buyers. Improved productivity in construction will help address this imbalance.

Housing For All commits the State to a more central role in leading and funding structures to ensure levels of productivity and innovation materialise. The most recent Progress Report for Housing for All (Q4 2021) provides an update on the significant progress being made on delivering this integrated set of policies, as well as on the considerable level of collaboration across Government, the actions being taken to increase capacity and efficiency of delivery of both public and private sectors, and the continued collaborative engagement with the construction sector and other important stakeholders, who are pivotal to its success.

The Progress Report is available at: www.gov.ie/en/publication/84e61-housing-for-all-q4-2021-progress-report/.