Last week, the Department of Finance published a report that showed forward funding arrangements by the approved housing bodies and the Land Development Agency are now central to the construction of multi-unit developments in Dublin. There are strong funding streams for social housing and cost-rental housing but no funding streams for affordable purchase. This is borne out by the statistics for building in Dublin, with 80% being apartments but only 6% going for purchase by owner-occupiers. That is not the tenancy mix we want to develop in our new cities and towns, nor does it reflect demand. The difference is that with cost-rental the State effectively underwrites the allocation of tenants, whereas with affordable purchase the risk of assembling buyers lies with the funders. We need to either take on the sale of these affordable homes so they can be built or underwrite the risk to those developers.

I thank the Deputy for allowing me to give consideration to this issue. I saw the report from the Department of Finance. I have also had a series of meetings with the banks this week at which I discussed the issue of development financing and how, when anyone reads the Housing Commission report, which is often misrepresented by people in this House for their own political ideology, it is actually very stark in terms of the level of funding that will be required. People speak about housing targets but the actual level of funding to meet them will be a huge collective challenge we will need to encounter. Let me specifically come back to the Deputy regarding what actions we can take. I will also ask the Ministers, Deputies Darragh O'Brien and Chambers, to look at the Deputy's specific suggestion and advise me on it.