Plan to be launched today aims for 160,000 houses over next five years
The much-delayed and anticipated document aimed at fixing the housing crisis will be published today and will set out targets for housing delivery to 2030.
The Government will this afternoon launch its Housing For All policy, aimed at tackling the housing crisis by spending €20bn over the next five years to see 160,000 homes built.
The document is expected to put a major focus on ending land hoarding and speculation, as well as cutting building costs and raise the productivity of the construction sector.
It will aim to see 300,000 homes built by 2030 include 90,000 social houses, as well as 36,000 affordable purchase, 18,000 cost-rental and 156,000 private purchase or rental houses.
The Government wants to reach 33,000 houses built per year by 2025 — that is 12,000 more than the total built in 2019, the last full year before the Covid-19 pandemic hit.
That will work out yearly as 10,000 social, 4,000 affordable purchase (including 2,000 houses under the shared equity scheme up to 2025), 2,000 cost rental and 17,000 private houses.
A key measure to be announced will be a 'land-sharing value'. This would see landowners or developers forced to pay up to half the increase in the value of land which is rezoned for housing.
Over the next five years just over €20bn will be made available to fund the plan — €12bn in direct Exchequer funding, €3.5bn in funding through the Land Development Agency and €5bn through the Housing Finance Agency.
This means that the yearly budget will be €4bn — higher than the €3.1bn in last year's budget.
A mooted stamp duty cut aimed at encouraging 'empty nesters' to sell houses and downsize will not be included. Sources said it was agreed that this measure would not be met by available supply in the short-term. Instead, the document will commit to a review of 'rightsizing' with the possibility of a stamp duty cut in the future.
A vacant site tax will also be examined, though sources said it will first be necessary for Revenue to be given the go-ahead to collate data on the true numbers of empty homes.
Under that plan, exemptions would be given for people whose houses are empty for valid reasons, including long-term nursing home care and other family circumstances.
The Plan will pledge to end homelessness by 2030.
The Peter McVerry Trust has given the report a thumbs up, welcoming a range of initiatives announced in it.
"Housing for All is a progressive document that will move us closer to achieving a more sustainable housing system that works for all in society," said Peter McVerry Trust CEO Pat Doyle.
"There are a number of key areas where the Minister has taken on board our views and our proposals to help people impacted by homelessness.
“The ambition to deliver 90,000 social housing units, together with increased Housing First targets and growing the existing cross-Government work on social inclusion are all hugely welcome."
Mr Doyle said he was "delighted" to see greater emphasis being placed on "urban regeneration and issues such as derelict sites, empty homes, and over-the-shop living."
"If we want to deliver a more sustainable housing system, reusing existing buildings for social and affordable housing has to be a key part of that."
He also welcomed the 18 distinct actions on homelessness in Housing for All, and said these measures "reflect the growing cross-Government commitment to tackling homelessness".
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