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The Minister for Housing, Local Government and Heritage, Darragh O’Brien, has today published a progress update on the planning measures he introduced two years ago to increase home ownership and restrict the practice of the bulk purchasing of homes.
The update shows that 31,000 homes received planning permission with conditions restricting the bulk buying or multiple sales to a single purchaser in the two-year period between May 2021 and May 2023, with the number of homes recorded in May 2023 effectively doubling from the 15,883 units recorded in May 2022.
The Ministerial Planning Guidelines are part of a series of government measures designed to prohibit the bulk buying of houses and duplexes in order to increase housing stock for home ownership.
Other measures include a 10% stamp duty levy on the cumulative purchase of 10 or more residential houses in a 12 month period.
Commenting on the data, Minister O’Brien said:
“The government is committed to supporting homeownership and to supporting first-time buyers. This data demonstrates that we have made the right interventions while continuing to point investment to where it is needed.
“As well as restricting bulk buying, we are also boosting supply through our plan, Housing for All, with recent data for new home commencements and completions at record levels. The dream of owning a home is becoming a reality for more and more people and we intend to keep this momentum going as we meet – and exceed – our annual targets.”
The breakdown of the 31,000 restrictions includes cases where An Bord Pleanála applied the planning condition prohibiting multiple sales (12,893 house and duplex units across all planning permissions) and where Local Authorities permitted schemes to proceed with a condition attached to prohibit multiple sales (18,111 residential units).
By way of background, the Minister for Housing, Local Government and Heritage, Darragh O’Brien, has today, 04 July 2023, issued a progress update on planning measures brought in 2 years ago to increase home ownership and restrict the practice of bulk purchasing by institutional investors.
Section 28 Guidelines for Planning Authorities (“Regulation of Commercial Institutional Investment in Housing”) - Update June 2023
Section 28 Guidelines for Planning Authorities (“Regulation of Commercial Institutional Investment in Housing”) - Update June 2023
In May 2021, Ministerial Guidelines for Planning Authorities “Regulation of Commercial Institutional Investment in Housing” were issued to planning authorities, in order to prevent multiple housing and duplex units being sold to a single buyer. Apartments were not included in this measure as the focus was on protecting traditional family homes while continuing investment where it is needed i.e. apartment developments which have viability constraints. The Guidelines included requirements that a condition be inserted in applicable new planning permissions, to the effect that all houses would have to be made available for sale and for occupation by separate, individual households.