Publication
Pathway to supporting homeownership and increasing affordability
From Department of Housing, Local Government and Heritage
Published on
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Affordability and the chance to own a home is at the heart of the government’s housing policy. It recognises that significant new supports are needed so that those who want to own their own home can do so, and that those who wish to rent are able to do so at an affordable rate. That is why the government is introducing and implementing new measures to make homes more affordable.
Among the main actions under this pathway are:
- 33,000 new units per year, on average, up to 2030. This includes over 10,000 social homes and 6,000 affordable homes
- an average of 6,000 affordable homes to be made available every year, for purchase or for rent. These will be provided by local authorities, Approved Housing Bodies, the Land Development Agency (LDA) and through a strategic partnership between the State and retail banks
- a new, national, affordable purchase ‘First Home’ shared-equity scheme. This will be available for buyers of new build homes in private developments, until 2025
- a new local authority-led ‘Affordable Purchase Scheme’
- an expanded ‘Local Authority Home Loan’ scheme
- the LDA to deliver a significant number of homes on State lands. This will be done in association with local authorities in major mixed-tenure developments
- Rent Pressure Zone protections extended to the end of 2024. Rent increase caps will be linked to the Harmonised Index of Consumer Products
- introduction of indefinite tenures (that is, tenancies with no time lengths) for rent leases
- introduction of a new form of rental tenure (agreement) called ‘cost rental’ with targets of rents being at least 25% below market value
Taken together, these measures will enable thousands of individuals and families to own their own home in the near-term. It will also reduce the pressures on thousands of people renting who currently face uncertainty about their future.
Read this pathway of ‘Housing for All’ in full.
Housing for All: A New Housing Plan for Ireland - Pathway1
Download
Pathway to Supporting Homeownership and Increasing Affordability: Factsheet
Download
Cost Rental: Factsheet
Download
First Home Scheme: Factsheet
Download
Local Authority Home Loan Scheme: Factsheet
Download
Local Authority Affordable Purchase Scheme: Factsheet
DownloadThe Government is introducing enhanced protections for tenants under Housing for All - a New Housing Plan for Ireland. The Government is committed to reforming the private rental sector to improve affordability and security of tenure. On November 16, 2021, the Government published the Residential Tenancies (Amendment)(No. 2) Bill 2021, to provide for:
1. Tenancies of unlimited duration; and
2. A cap on the maximum allowable rent increase in a Rent Pressure Zone of 2% per annum pro rata, when inflation is higher than 2% per annum. A Rent Pressure Zone is a designated area where annual rent increases are restricted.
View the full Residential Tenancies (Amendment) Bill 2021 here: Residential Tenancies (Amendment) (No. 2) Bill 2021
