O’Connor welcomes FF Bill which will allow local authorities earmark land for first time buyers

Local Fianna Fáil South Dublin County Councillor, Charlie O’Connor has welcomed a Fianna Fáil Bill which would empower local authorities to earmark residential land for the purpose of sale to first time buyers.

The Planning and Development (Amendment) (First Time Buyers) Bill will ensure that up to 30% of zoned land will be earmarked for first-time buyers. For example, a development of ten units would have up to three units available for first time buyers to purchase.

Cllr O’Connor said, “Whereas the Fine Gael Government have been found severely lacking when it comes to real and meaningful solutions to address the housing crisis, Fianna Fáil have set out a number of measures to tackle the ever-growing emergency.

“This latest one seeks to level the playing field for first time buyers and keep the dream of home ownership alive – something which has become further away for most people in recent years with home ownership rates slipping to a 50 year low of 67%.

“As it stands the influx of Cuckoo Funds snapping up entire housing estates and apartment complexes is contributing to an unprecedented degree of competition for first time buyers. This Bill will prevent the bulk buying of entire developments by investment funds thereby freezing out first time buyers .

“We know that house prices in our area are continuing to rise. The average price of a home in South County Dublin is now €403,000 which it totally out of reach for many. I regularly hear from professionals in our area who are losing all hope of ever owning their own home here. When young professionals – teachers, nurses, engineers – are struggling to rent let alone buy, the housing market is severely dysfunctional.

“I will be bringing a motion before South Dublin County Council seeking cross party support for what is a real and genuine attempt to make it easier for people to own their own home”, concluded Cllr O’Connor.