New attempt to ringfence land for first-time buyers
By Aideen O'Flaherty
A LOCAL councillor will be seeking cross-party support from his fellow elected representatives for a Fianna Fáil Bill which would allow local authorities to ringfence residential land for the purpose of sale to first-time buyers, when South Dublin County Council reconvenes.
According to Fianna Fáil, the Planning and Development (Amendment) (First Time Buyers) Bill will ensure that up to 30 per cent of zoned land will be earmarked for first-time buyers.
Aerial photograph of Tallaght
Tallaght Central Fianna Fáil councillor Charlie O’Connor said: “This [Bill] 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 per cent.
“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 is 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.”
The Bill will be introduced by the Fianna Fáil TD for Dublin Fingal, Darragh O’Brien, in the new session of the Dáil, while the matter will also be raised by Cllr O’Connor at an upcoming meeting of South Dublin County Council.
