Budget 2022: IHBA welcomes Government's commitment to housing

The Irish Homebuilders Association (IHBA) has today welcomed the announcement of Budget 2022 and measures aimed at tackling the housing crisis.

In particular, the Association welcomed the extension of the Help to Buy Scheme.

“The decision today to extend the Help to Buy Scheme is a very positive outcome and will bring more certainty and help to hopeful buyers in securing the required deposit to obtain their residential mortgage.

“It will also assist the rate of commencement of new homes which is much needed as supply continues to lag behind where it needs to be," James Benson, Director of the IHBA said.

“We also look forward to engaging with the review of the scheme in the new year."

In relation to the announcement of a zoned land tax, James Benson added:

“Transitional arrangements, confirmation of when the market value of 3% is taken from, assessment of viability and identification of any infrastructural deficits that impede delivery should be considered in identifying appropriate lands.

“Revenues collected should be ring-fenced to support local network reinforcement and remove the current burden on the purchasers of new homes.” 

“The IHBA has campaigned vigorously for home building to be prioritised by this Government and we are pleased to see steps being taken to do this.

“In recent weeks we have welcomed the publication of the Government’s ‘Housing for All’ plan as well as the National Development Plan.

“We support any fiscal measures announced by Government which enable both of these plans to deliver on their ambitions.” 

Mr Benson said as the Government continues in its efforts to tackle the housing crisis the IHBA will “seek to positively engage with any future legislation or public consultation that promotes the delivery of homes and supports would-be homeowners to get on the property ladder.”