Government says 300,000 home target a ‘realistic’ minimum

By Cillian Sherlock, PA

It is a “realistic projection” to deliver a minimum of 300,000 new homes by the end of 2030, the Government has said.

The coalition’s new housing strategy, Building Homes, Delivering Homes, Building Communities 2025-2030, said that the target is achievable by getting public and private sector partners working effectively together.

Under the plan, the State says it will deliver 72,000 social homes and work under a new prevention framework to “focus on ending homelessness”.

The Government said it will provide 90,000 Starter Home supports, “allowing thousands of people to realise their dream of homeownership”.

To build the number of homes projected under the plan, an estimated 20 billion euro in development finance will be required each year.

To reach this level of delivery, the State is committing “significant funds” towards the provision of social and affordable homes.

It has committed in excess of nine billion euro in funding for housing through the Exchequer, the Land Development Agency (LDA) and the Housing Finance Agency in 2026.

The remaining required funding is to come from investment by the private sector.

The Government also promises to reduce “planning, legal and regulatory delays and uncertainties” as well as “radically increase” investment in public infrastructure.

It also pledges to provide more zoned and serviced land to enable to private sector to deliver homes at a greater scale.

The Government said it has provided “unprecedented” resources through the National Development Plan to enable the largest ever capital investment in the history of the State, a total of €275.4 billion.

On infrastructure, it is investing over €24 billion in key transport programmes, €12.2 billion for the water sector and over €28 billion for housing and related infrastructure.