‘Radical’ plan to provide 1,400 social houses

UP to 1,400 homes could be opened to people who need them under a scheme proposed by the Irish Council for Social Housing yesterday.

In its pre-budget submission the ICSH said the plan, under which housing associations would borrow money from financial institutions to buy homes on the market, would make houses available to the poor and unemployed.

The scheme would cost around €14 million per year, with the Government providing an equity stake up front and entering into a long-term lease agreement with the housing association for the units.