Fine Gael TD for Dublin South West Colm Brophy has said the Government is allocating funding of €1.9 billion to housing programmes that will meet the needs of 25,500 households in 2018.
Speaking following the announcement of Budget 2018 yesterday, Deputy Brophy said:
“Every working day of the week next year, 98 households will have their housing needs met.“That’s good news for families here in Dublin South West who will have a solution to their housing needs.“Budget 2018 will see a total funding provision of €1.9 billion, which represents an increase of 46% on 2017.“A large element of this funding €1.14 billion) is for the delivery of almost 5,900 social homes through a range of construction and acquisition programmes.”
Deputy Brophy said the balance of the funding will be used to add additional tenancies, and maintain existing ones and will be done by funding the existing Rental Accommodation Scheme and the Housing Assistance Payment.
“South Dublin County Council has the funding available to increase the housing supply throughout the constituency.“To further increase supply the Minister announced the establishment of Home Building Finance Ireland (HBFI).“He has allocated a €750 million of the Ireland Strategic Investment Fund available for commercial investment in housing finance.“HBFI will increase the availability of debt funding on market terms to commercially viable residential development projects whose land owners want to build homes, by making finance available at a lower rate.“To get up and running quickly, HBFI will draw on the extensive skill and expertise in residential development funding that currently resides in NAMA.“The Ireland Strategic Investment Fund and NAMA are already supporting the commercial delivery of 30,000 houses and apartments over the period to 2021 and these additional funds have the potential to fund the construction of an additional 6,000 homes.”