FF Housing Policy “Owning your own home” – Main Points

Total Package – €2.1bn in additional spending above pre-committed levels.

1. Strengthening Home Ownership
– 33% SSIA Top Up scheme for First Time Buyers.
– Retain and expand the Help to Buy scheme.
– Build 50,000 Affordable Homes for purchase at below €250,000.
– Change planning laws to prevent cuckoo funds buying up whole developments.

2. Direct Build Social and affordable homes
– Direct build 50,000 new social housing units.
– Slash red tape by raising Local Authority spending thresholds from €2m to €6m.

3. Cutting construction costs
– Reduce Development Levies on condition of construction being completed.
– Streamline regulations to make it easier to convert above the shop spaces.
– Expand Apprenticeship places to 10,000.

4. Penalising hoarding and underuse of land and property
– Increase Vacant Site levy to 14%.
– Launch a 200 strong Local Authority Short Term lettings taskforce.
– Reform and consolidate planning & Compulsory Purchase Order laws.

5. Helping Generation Rent
– Introduce a €600 rent tax credit for all private renters.
– Create a National Rent Deposit Scheme with a “life time deposit” that moves with the tenant until they withdraw it. (€8m to set up)
– Overhaul the RTB by doubling its resources to undertake active investigations.

6. Ending Homelessness
– Allocate adequate funding to address rough sleeping on our streets as a matter of priority by increasing homeless funding to €250m per annum.
– Set up a new specific rolling acquisition fund in the Housing Agency to purchase repossessed units and keep those tenants in place.

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