The Social Democrats Housing spokesperson Cian O’Callaghan TD has urged the Minister for Housing to rethink and redesign his affordable housing plans, in particular the shared equity loans.

Deputy O’Callaghan said:

“The experts are now lining up to tell the Minister for Housing that some of his affordable housing plans will actually make housing more expensive. The Minister has a duty to listen to the experts and take heed of the evidence being presented.

“The Minister must rethink and redesign his approach to affordable housing, in particular the shared equity loans. The key issue here is the supply of affordable homes. The Central Bank, the ESRI and others say we need 30,000 – 35,000 new houses each year for the next decade. At the moment, only 20,000 are being built. With supply so low, the proposed shared equity loans will just drive up prices – we cannot allow that to happen. The State needs to build more affordable homes.

“The Minister has to take his head out of the sand on the issue of affordable housing. This issue is too important to get wrong.”

February 16, 2021

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