Taoiseach: First-time buyers should have priority over investment funds

Taoiseach: First-time buyers should have priority over investment funds

Taoiseach Micheal Martin arriving at Dublin Castle for a meeting of the Cabinet this morning. Picture: Leah Farrell / RollingNews.ie

Housing is the Government's number one priority and ministers will be doing everything they can to provide housing for people, Taoiseach Micheál Martin has said.

Speaking on his way into Cabinet, Mr Martin said supply needs to be ramped up significantly and the Government has committed to deliver the largest social housing programme in the history of the State.

The Government, the Taoiseach said, needs to do more in providing affordable housing and to give first-time buyers priority ahead of such investment funds. 

Mr Martin said the immediate issue is to deal with the issue of Real Estate Investment Trusts (Reits) and their impact on first-time buyers, and that this will be discussed at Cabinet but no final decision is likely.

In terms of supply, over the next five years over 50,000 social housing units will be built, the Taoiseach said. 

Green Party leader Eamon Ryan accepted that there is a real crisis in housing and that a whole lot more is needed to address the situation. 

"We've done a lot in the last year and a half to look after our older people changing everything," he said.

Mr Ryan added there is a new plan being developed but that it will take time to get it right.

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