83% Of New Housing Funding To Come From Investment Funds

Thursday, 27 January 2022 10:36

By Caoimhe Harney

Government releases new housing strategy

The Government has laid out its new housing strategy, which promises 33,000 homes a year out to 2030.

New figures show building started on over 30,000 homes in 2021.

The stats, released as part of an update on the government’s housing plan, show commencements are now at the highest level since 2008.

But this is still below the government's target of 33,000 per year, as it aims to tackle spiraling house prices.

Dr. Rory Hearne Assistant Professor in Social Policy at the Department of Applied Social Studies Maynooth University: "Reading the Governments latest review of its Housing For All Plan,the overwhelming support for,and reliance on, investor funds/vultures is startling.

"Most (83%) of new housing funding to come from funds and private market, " he said.

"A lot of new builds are bought by investment funds, and rented out.

"The rent that they are charging is unaffordable," he insisted.

"12billion needed for housing supply and 10billion of that will be needed from private investors.

"Only 2 billion of the investment will be coming from the Government, " he said.

"Government said last year that it would clamp down on investment funds.

"Now we find out that the government are encouraging these investors," he insisted.

Dr. Rory Hearne spoke with Clem Ryan on Thursday morning's Kildare Today:

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