Smith welcomes the passing of the Affordable Housing Bill 2021

Fianna Fáil TD for Cavan-Monaghan, Brendan Smith, has welcomed the passing of the Affordable Housing Bill 2021 in Dáil Éireann.

The Bill, which is the most comprehensive affordable housing Bill in the history of the State, passed with overwhelming support and will revert back to the Seanad for enactment.

Deputy Smith commented, “Over the past year Government have put affordability and the chance to own a home at the very heart of our housing policy.

“My party colleague and Minister for Housing, Darragh O’Brien, has worked especially hard to ensure that those hard pressed renters, the first-time buyers and the individuals living with their parents while trying to save every spare cent, will have a chance to own their own home or rent securely.

“Cost rental will now for the first time ever, be put on a legislative footing in Ireland. It’s a model where the tenant pays the cost of delivering, managing, and maintaining the homes only. It will be long term secure tenure.

“Under this Bill, Local Authorities will now be empowered to build, acquire and make available, homes at prices which are below open market levels meaning that middle income earners will be supported to own their own home. The new shared equity scheme also provided for under this Bill will help to bridge the gap between the market value of a home in the private market and what an individual or couple can afford.

“This Bill also provides for an important increase in Part V provision which reverses the decision made in 2015 to remove the affordability requirement from the Part V provision. Any future development will now have a Part V requirement set at 20%, with a 10% minimum requirement for social homes and up to a further 10% requirement for affordable homes where required, or where not so required, the additional percentage may be used towards social housing.

“I very much welcome the passing of this Bill and I look forward to its enactment as quickly as possible” concluded Deputy Smith.