Put first-time buyers into houses: Introduce State-Backed Shared Equity Scheme
Introduce a shared equity scheme, in conjunction with the Help to Buy, will enable the average couple to secure a mortgage. Increasing the number of first-time buyers with mortgages will have the knock-on effect of increasing development finance thus enabling more house-building.
Adjust planning density requirements to allow affordable quality housing that people want
Housebuilders can’t secure finance to deliver houses and apartments that meet planning density guidelines particularly outside Dublin. To meet a minimum of 35 units per hectare homebuilders would have to build more apartments that are too costly and not in demand outside Dublin. Introducing flexibility on a regional or market basis would allow regional homebuilders to secure finance to build much needed homes around the country.
Enable the construction of affordable housing by reducing Government-related costs
Over 55% of the cost of delivering a house relates to taxation, levies, land costs, finance costs and engaging with utilities. Reducing these costs will enable homebuilders to secure finance so they can build more affordable homes for people. More supply will reduce pressure on social housing lists, homelessness, rents and Government payments such as HAP.
Building houses where population is growing
Project Ireland 2040 aims to grow towns, villages and communities by ensuring housing and infrastructure are put in place. County Councils are being instructed to restrict land zoned residential that could support thousands of homes in areas with growing populations. County Development Plans must where appropriate retain current zoning status on existing lands for the next five years.