Local Authorities Could Buy Up Cheap Housing

As the fall-off in the housing market continues, local councils are being encouraged to take advantage of the discount rate and buy-up 'unwanted' homes.

As buyers 'sit on the fence', waiting for the market to bottom-out before buying, the falling value of homes could mean cheap housing resources for local government social housing requirements.

The idea was suggested by Mayo Fianna Fáil TD Beverley Flynn, who spoke on the issue in the Dáil this week during a debate on the economy.

She said: "The current market presents an opportunity, if resources were freed up to local authorities, to enable them to negotiate deals to buy up affordable houses to satisfy current demand for social housing.

"This matter should be given careful consideration."

The TD also said the proposal could spark an resurgence in the construction sector and reinvigorate the economy.

"First-time buyers are sitting on the fence while construction workers are losing their jobs and are being encouraged to work abroad.

"The Government tax take in the construction area generally, not just from VAT, is down. We need to examine some areas in order to address this situation," she said.


Related Irish News Stories
Click here for the latest headlines.

01 April 2015
Minister Announces €1.5bn Social Housing Plan
Minister for the Environment, Community & Local Government, Alan Kelly T.D. has announced housing targets for each local authority area out to 2017. Over €1.5bn will be invested in a combination of building, buying and leasing schemes by local authorities designed to accommodate 25% of those currently on the housing waiting lists in social housing.
06 September 2019
Climate Action Town Hall Held In Limerick City
A Climate Action Town Hall has been held in Limerick City by the Minister for Communications, Climate Action and Environment Richard Bruton. It is the 7th such event held by the Minister as part of a series of town hall meetings on his Climate Action Plan.
13 September 2019
Other News In Brief
Consultation On National Broadband Plan Mapping Exercise The Department of Communications, Climate Action & Environment is currently seeking submissions to the consultation on the conclusion of the broadband mapping exercise.
11 April 2019
Labour Urge Housing Minister To Fund Social Housing Plans
Labour Party Senator Kevin Humphreys has called on the Housing Minister Eoghan Murphy to commit funding for a social and affordable housing plan in Poolbeg West, Dublin. It comes after the housing development gained approval from An Bord Pleanála.
14 May 2014
FF Publish National Housing Strategy
A new National Housing Strategy, to "help address the serious shortage of available housing units and the record numbers waiting on social housing lists" has been published by Fianna Fáil.