PROPOSALS TO TACKLE investment funds pricing first-time buyers out of the housing market will be brought to Cabinet next week, the Tanaiste has said.
Speaking during Leaders’ Questions, he said: “Homeownership is now out of reach for far too many people, for far too long.” While Varadkar declined to go into the details of the proposals to go before Cabinet on Tuesday, it is understood that the government is giving consideration to ring-fencing the number of homes for owner-occupier buyers, as well as taxation and legislative changes.As a result of the fallout from Round Hill Capital buying 135 homes at a new development in Maynooth, Co Kildare, the issue of housing has been raised each day in the Dáil this week.
A senior source confirmed that such provisions could take a “week or two” to get over the line, while another said they expected measures “in the next two weeks”. Related Reads 12.05.21 Housing crisis: Taoiseach under pressure in Dáil as CSO data shows price of a home rose by 4% in 12 months 09.05.21 'I feel constant shame at our situation': Your stories of Ireland's housing crisis
He said that while homeownership levels in Ireland have fallen, it remains at between 65% and 70%, a figure higher than in “the US, UK, Germany, France, Australia, lots of other places.”“We’ve have to build about 350,000 new homes in Ireland over the next 10 years, at a cost of about 120 billion euros.“So we need the private sector and public sector working together. We need public housing and we need private housing.
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