Micheál Martin feels Government is ‘turning tide’ on housing crisis

TÁNAISTE Micheál Martin has said he believes Government is “turning the tide” on housing and anticipates 2024 will be a “significant year for house building”.

Speaking to The Echo, Mr Martin said the housing crisis is the “biggest issue” the coalition continues to face but asserted that progress is being made.

“On housing, we are turning the tide.

“We’re gaining momentum in terms of the number of houses built, but we have much more to do on housing. It is the biggest issue, I think, housing is, and we’re not there yet,” he said.

In its latest Housing For All progress report, the Department of Housing stated that 32,695 new homes were completed in 2023, which it said represented “the largest annual delivery of new homes in 15 years”.

“I’d like to get that up to the 40,000 in the short term,” Mr Martin said. “I think 2024 will be a significant year for house building and then in 2025 we should be getting above that 40,000.”

According to the latest Housing For All progress report, 28,761 first-time buyers received mortgage approval between January and November 2023. Close to 2,500 couples and individuals availed of the First Home Scheme. In addition, more than 7,000 couples and individuals are expected to have availed of the Help to Buy Scheme last year.

Under the latter measure, first-time buyers can claim up to 10% of the value of their home, or €30,000 — whichever is lower — through the tax rebate scheme.

However, only new properties or self-builds are currently eligible for the incentive.

Asked if the government would consider extending the scheme to include second-hand homes, Mr Martin said: “We’re looking at that, that’s being examined – although the whole idea is to get new houses built, to incentivise the building of new homes.”

Mr Martin said he would also like to see an increased roll-out of modular homes to help expedite the delivery of new units.

“The other thing is I think we have to push harder and harder on the modern methods of construction, as they’re called — getting houses built faster,” he said.

“A lot of units are now done off site, in terms of either steel frame, timber frame, or what’s called modular but essentially they’re houses that can last 60 years… so I would like to see a faster roll-out of those in the coming while.”