New home starts up 7% compared to same period last year

July 12, 2023

The three coalition leaders and Minister for Housing Darragh O’Brien will unveil the latest progress report on the Government’s “Housing For All” plan.

The data relates Q2, from April to June this year.

It shows building started on 12,987 new homes in the first five months of 2023, up 7% when compared to the same period in 2022.

6,716 new homes were completed in the first three months of 2023, an increase of almost 20% on the same period in 2022.

Housing For All was launched in 2021, with a promise to deliver 300,000 new homes by 2030.

The Coalition described it as an “unprecedented” housing strategy, which was underpinned by €4 billion in guaranteed State funding annually, for the next five years.

Sinn Féin’s Spokesperson on Housing Eoin Ó Broin branded it as a continuation of the last government’s failed policy and predicted it would “do little” to address the crisis.

Meanwhile, tenants who are served with a notice to quit by a landlord selling-up will be given 90 days to make a bid to purchase the property, under legislation being drafted by Mr O’Brien.

The minister will update his Cabinet colleagues later today about his Right to Purchase Bill, ahead of a decision on the legislation in September.

It is proposed that where a notice to quit is served on the basis of a landlord’s intention to sell the home, then the landlord would be obliged to simultaneously invite the tenant to make a bid to purchase the property within 90 days.

If the landlord proceeds to put the house on the market and receives a higher bid, then they would be obliged to invite the tenant to make a further bid equal to the sales price they are willing to agree with the third party.

The selling landlord would be obliged to accept the matching bid from the tenant.

What is described as detailed work has been ongoing between the Department of Housing and the Attorney General, following the Government decision last March to advance the policy.

It is understood the Government is conscious at all times, in bringing forward legislation such as this, that it does not want any unintended consequences: for example, causing delays to the conveyancing process.

It is also required to ensure, when formulating legislation, that it can withstand legal challenge.

The Department of Housing stresses that tenants are already availing of opportunities to purchase or indeed to remain as long-term tenants in their home under the current measures which are in place – such as the Tenant in Situ Scheme, the Cost Rental Tenant in Situ Scheme, and the expanded First Home Scheme.

It also says landlords are already choosing to sell homes directly to tenants and Local Authorities.

Additionally, details of how a €150m Urban Regeneration and Development fund will be spent, are also to be announced by Mr O’Brien.

The measure is targeted specifically at vacancy and dereliction in cities and towns across the country.

Each Local Authority was requested to submit information on the number of industrial, commercial and/or residential buildings which they could acquire and then sell for residential purposes.

The successful Local Authorities will be informed of their allocations today.

Article Source: New home starts up 7% compared to same period last year – Paul Cunningham – RTE

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