Fianna Fáil members vote to end smaller sizes for rentals

Fianna Fáil will push for an end to smaller sizes for build-to-rent homes.

The party’s ard fheis this afternoon passed a motion calling for the end of lower standards in developments for rent than in units for sale by owner-occupiers and returning them to “one standard”.

Proposed rental housing developments have often been the focus of controversy, as some see high rents for small spaces that cannot be purchased by first-time buyers struggling to get a foot up the property ladder.

Build-to-rent homes also don’t have to meet minimum size standards in homes for sale.

The motion, which was accepted, read: “That this Ard Fheis call for the ending of the ‘Build to Rent’ standard and a return to one standard for all dwellings.”

Housing Secretary Darragh O’Brien told ard fheis he would end the two tier system of standards.

The push comes amid mounting pressure on the government to deal with the housing crisis and a growing shortage of rental properties as landlords continue to exit the market.

It comes as the housing secretary said homebuild homes will be included in the government’s share ownership scheme.

The First Home program, which launched earlier this year, offers support from the government and participating mortgage lenders.

An equity interest of up to 30 percent will be offered to eligible buyers to close the gap between their security deposit and mortgage (combined) and the home price.

Those who have received the Help-to-Buy program see that the stake is capped at 20 percent.

Currently new home buyers are eligible but home builds are not.

This is now to be changed.

Darragh O’Brien will announce the change after receiving a stamp of approval on Friday night from Taoiseach Micheál Martin, who said he would keep the Fingal TD as housing secretary after a cabinet reshuffle in December.

The program was hailed as a “game changer” by the Housing Minister, despite concerns from the central bank and ESRI that it would push up house prices.

The program has cost taxpayers €400 million and is expected to cover the purchase of 8,000 new homes over the next four years.

AIB, Bank of Ireland and Permanent TSB are involved in the scheme and other lenders are expected to sign up.

The First Homes program, part of the government’s Housing For All strategy, has no income limits for those who apply.

However, there are restrictions on the value of properties that qualify for the program in each local government area. The limits are based on the median for a new home in the area.

Mr O’Brien previously said he and his officials worked on the program for two years and received approval for it from the European Union, the European Central Bank and the Central Bank here.

https://www.independent.ie/irish-news/politics/fianna-fail-members-vote-to-end-smaller-sizes-for-build-to-rent-apartments-42031441.html Fianna Fáil members vote to end smaller sizes for rentals

Fry Electronics Team

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