Government’s ‘Build Programme’ expected to yield 3,800 new homes
AS part of the government’s ‘Build Programme’ the Minister for Housing, Eoghan Murphy said the budget for housing in 2018 will increase by 46% (or €600m) to €1.9bn.
The department say this represents almost €2 billion of a hike which has been directly aimed at housing shortages and the homeless crisis. In terms of financing the construction of badly needed new homes, the government estimates an increase of 62% (€1.14bn) will help meet this ongoing challenge.
The Government is to prioritise social housing with an additional capital allocation of €500m being made available up to 2021. Moreover, it envisages that 3,800 homes will be built by the state in the coming year with a further 1,200 builds or rebuilt vacant homes; 900 homes are to be delivered through acquisition, and an additional 2,000 homes secured through long-term leasing arrangements.
By 2021, the additional €500m of capital funding is expected to increase the overall ambition of ‘Rebuilding Ireland’ from 47,000 to 50,000 social housing homes. Overall, the funding earmarked for the Rebuilding Ireland Action Plan is being increased from €5.35bn to over €6billion.
“We must always produce a certain percentage of the total housing output in a given year, directly by the state. That way we can be confident of protecting our most vulnerable citizens, even in a future time of crisis. Every new home built, to buy or to rent, or for social housing, takes pressure off another part of the system,” said Minister Murphy.