The latest increase in housing supply is key to solving our housing crisis, according to local Fine Gael TD Maria Bailey, who says that the figures are going in the right direction according to last week’s CSO figures.
“The CSO report shows that the number of new dwellings for Quarter 2 of 2018 is up 34% on the same period last year.
“This is a significant proportional increase and it is good to see that housing supply is going in the right direction. While these figures are welcome, there should of course be no complacency.
“There is no doubting the severity of the problem we are working to fix since our economic crash. However if the figures keep going in the right direction like this we will see results.
“I know it has been frustrating for people, and it feels slow, but in 2016 we were still feeling the effects of the collapse of the residential construction industry by 90%.
“Rebuilding Ireland has allowed us to put solid foundations in place upon which we build our future.
“We have a range of supply side measures to facilitate the delivery of homes at more affordable price points, to buy or to rent.
“For example there is a new fast-track planning process for large developments and apartments to speed up decisions and provide greater certainty and this is showing results with planning applications on the rise.
“Funding of €200m to open up housing lands has been provided by government through the Local Infrastructure Housing Activation Fund.
“We have also established Home Building Finance Ireland (HBFI,) to provide competitive loans for builders and approved housing bodies, keeping their costs low – with up to €750m, it is estimated that HBFI could have capacity to fund about 6,000 homes in the coming years.
“The CSO notes in its report that more than three quarters of all new dwelling completions (78%) are in urban areas, which is reflecting demand and is very much welcomed.
“We must stick to the plan now as the measures in Rebuilding Ireland will keep the country going in the right direction.”