Affordable housing bill passes through Dáil

The housing minister said the bill paves the way for cost-rental and affordable purchase schemes, the likes of which have not been seen in Ireland

Housing Minister Darragh O'Brien has welcomed the passing of the Affordable Housing Bill. File Image

The new Affordable Housing Bill will open up home-ownership to those who would have previously found it out of reach.

So said Housing Minister Darragh O'Brien, speaking after the Dáil passed the bill by a margin of 101 to 8.

Mr O'Brien said the bill paves the way for cost-rental and affordable purchase schemes, the likes of which have not been seen in Ireland.

"This cost-rental scheme is pretty much for the first time ever. I will give an example. Some people might not like to hear "market price", but yesterday the first 25 cost-rental homes launched. 

To give an indication of affordability, they are about 50% less than the market price charged for rent in that part of north county Dublin.

Votes against the bill came from People Before Profit/Solidarity and the Social Democrats, who argued it would not solve the affordability crisis.

Social Democrats Housing spokesperson Cian O'Callaghan said the bill would "add fuel to the fire of rising prices".

“The Government’s Affordable Housing Bill is flawed on a number of fronts. The shared equity scheme will drive up house prices, cost rental will be more expensive by allowing profit extraction by investors, and the affordable purchase homes are unlikely to be affordable. 

This bill should be renamed the Unaffordable Housing Bill.

Sinn Féin's Eoin Ó Broin said that his party is broadly in favour of three of the four parts of the bill, but opposed to the Shared Equity Scheme, which he believes the Government should withdraw.

The bill passed as it was announced that the tendering process has commenced for the largest social and affordable scheme in the country at Shanganagh Castle, Shankill, Co Dublin. 

The development will see the Land Development Agency deliver 597 homes in partnership with Dún Laoghaire Rathdown County Council.

The tender process is expected to complete later this year with construction scheduled to commence in 2022. 

The first homes will be completed early in 2023. All of the 597 homes will be social and affordable.