Investment funds in housing market
Deputy Durkan asked whether investment funds crowding out buyers and local authorities in the housing market constituted a conflict of interest and whether action would follow. The Taoiseach said action would be taken and that councils should build and commission more homes.
My question to the Taoiseach is on a subject that has been well worn over the past week and rightly so. Has a conflict of interest been determined in situations whereby investment funds can freely enter the housing market in such a way as to distort it, to prevent private home buyers from acquiring a home of their own, to prevent local authorities from acquiring houses in line with the requirements, and to prevent approved housing bodies, all to the frustration of Government policy? Can action can be taken in this regard?
Comment on this
Action will be taken in respect of that matter. We do not want investment funds competing with or crowding out first-time buyers or, for that matter, councils. We want councils to build more houses and to commission the building of more houses. We want county and city councils the length and breadth of the country to get involved in direct build and to commission builders to do that.