Fine Gael General Election candidate for Dublin North West, Noel Rock has welcomed today’s announcement of a number of measures which will kick-start new housing construction and enhance supply at more affordable prices.
A number of actions will be initiated from January of next year which include:
• Enhanced supply of more affordable starter homes in key locations through a targeted rebate of development contributions in Dublin and Cork for housing supplied under certain price levels
• New National Apartment Planning Guidelines to be issued by the Environment Minister to reduce the cost of apartment building in Dublin City by approximately €20,000 per unit
• Changes to aspects of the operation of Strategic Development Zones to enable swifter adjustments to meet market requirements
• The Government’s Irish Strategic Investment Fund (ISIF) to examine funding for housing infrastructure on a case-by-case basis
“The shortfall in housing supply is a real problem, and without policy intervention the situation could deteriorate further,” Councillor Rock stated. “The measures that have been agreed today will help stimulate new housing supply, by making it economically viable to construct houses in key urban areas. These measures, which cover planning, development levies and other areas, will complement NAMA’s undertaking to fund the delivery of 20,000 additional residential units by 2020,” he explained, adding that the changes will not affect building standards, which are set down by law.
“In terms of the rental market, the measures will promote greater stability for tenants, but are time-bound in order to prevent any negative impact on supply. Taken together, these targeted measures will have a positive impact on the housing market, and I am confident that we will see a significant stream of additional housing units in the near future,” Councillor Rock concluded.