Reacting to the Government’s Affordable Housing Bill 2020, Social Democrats Housing spokesperson Cian O’Callaghan TD said:

“Relying on the private sector for the provision of affordable housing is a broken model. Shared equity loans are more of the same old, failed, developer-led policymaking. We need a change of direction.

“A review of the UK shared equity loans found that first-time buyers ended up paying more, developers’ profits went up and the scheme helped those who didn’t need help.

“If we want homes that are truly affordable, the State must directly build them and sell or rent them at cost. Private developers built about 18,000 homes last year– we need about twice that number. This will only happen if the State plays a very direct, proactive role in the delivery of affordable homes.”

January 20, 2021

Back to all Posts