Bernard Durkan (Kildare North, Fine Gael)
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147. To ask the Minister for Housing, Planning, and Local Government the average price of a house deemed to be in the affordable category; the number built, acquired or under construction at present throughout the country; and if he will make a statement on the matter. [15910/24]

Darragh O'Brien (Dublin Fingal, Fianna Fail)
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Home ownership and affordability are a key priority for Government which has targeted the delivery of 54,000 affordable homes between now and 2030, to be facilitated by local authorities, Approved Housing Bodies, the Land Development Agency and via the First Home scheme, a strategic partnership between the State and retail banks. It is anticipated that 36,000 of these homes will be affordable purchase homes.

An Affordable Housing Fund subsidy is available to local authorities as a direct subvention towards the development cost depending on the density of housing units per hectare achieved on the development concerned, and its location. The subsidy enables local authorities to make the homes available for purchase by approved affordable housing applicants at an upfront affordable purchase price that is between 5% and 40% less than the open market value of the home concerned. In return the local authority retains a commensurate equity stake in the property which may be redeemed by the purchaser at a future date. In this way persons and families on modest incomes who were priced out of the housing market are now being facilitated in acquiring their own home.

The price point at which new homes are delivered by local authorities for affordable purchase purposes is dependent on a range of variables, such as the location, the scale of the development, the size and type of the homes involved together with the individual purchasing power of the approved affordable housing candidate household concerned. Median house prices differ widely by area so the concept of defining the affordable housing category by an average price is problematic. However, homes made available under the scheme are typically new starter homes, in the lower half of the market price spectrum for the area.

For example, Kildare County Council delivered nineteen 3-bedroom affordable homes to affordable purchasers at Grey Abbey, Kildare last year. The open market value of the homes on offer ranged from €360,000 to €370,000 (reflecting the various types of home available).

The application of a subvention from the AHF enabled the homes to be advertised in May 2023 at upfront prices from €285,000 and €300,000.

By way of comparison, CSO data shows that the rolling 12 month median price for new homes purchased by First-Time Buyer Owner Occupiers in the Kildare region in May 2023 was €410,000.

In terms of delivery numbers, local authorities now submit quarterly data returns to my Department on the delivery of affordable homes in their area. Quarterly and annual returns for 2022 and 2023 have been published at the following weblink:

www.gov.ie/en/collection/6060e-overall-social-housing-provision/#affordable-housing-delivery.

The data published shows that over 5,800 affordable housing solutions have been delivered to date. This figure includes 822 affordable purchase homes delivered by local authorities with the support of the Affordable Housing Fund. A strong delivery pipeline is in place and continues to be developed and expanded in line with Housing for All targets and identified affordability needs.