Sinn Féin TD for Dublin North-West, Dessie Ellis, has said that ‘the decision to lower the price of the three bed ‘affordable’ homes in Oscar Traynor Road to €360,000 is an admission that the initial prices were not affordable’.

Teachta Ellis said:

“The decision to lower the price of the three-bed ‘affordable’ homes in Oscar Traynor Road to €360,000 is an admission that the initial prices were not affordable. This change has only occurred because of the pressure Sinn Féin and others exerted in recent weeks.

“However, the full market price of the homes remains at €500,000, and buyers will eventually have to pay full market price if they want to own the property.

“The State is now taking up to 28% equity in these homes. That means the Council will own 28% of your family home. If you want to buy out this equity, you can only do so in €10,000 lump sums. If you can’t buy out the equity, your children will have to pay it on inheritance.

“I would also like to know where the money for this increased equity share by the state is coming from.

“The original price of €400,000 was based on the Council receiving the maximum Affordable Housing Fund payment of €100,000 from the Department.

“Is the Department now offering €140,000 or is the Council paying the extra €40,000 from their own resources, and if so from where?

“Ultimately the same problem remains. The government and council could have delivered affordable homes at prices below €300,000 on this site when it was publicly owned.

“Instead, they sold it to a developer and the prices are out of reach of most working people.”