Sinn Féin spokesperson on Housing, Eoin Ó Broin TD, has accused both Tánaiste Micheál Martin and Minister for Public Expenditure and Reform Paschal Donohoe of “deliberately misleading the public on affordable housing”.
The Dublin Mid-West TD’s comments were made is response to statements from the two leading Government figures on the price of so-called ‘affordable’ homes on Oscar Traynor Road, Dublin.
Teachta Ó Broin said:
“This week, Dublin City Council announced the prices for so-called affordable homes on Oscar Traynor Road, in Coolock, North Dublin City.
“The site was formerly owned by Dublin City Council but sold in a controversial deal to developer Glenveagh in 2021.
“The price of three-bed homes ranges from €399,731 to €475,000. However, the full market price is €500,000. The difference between the purchase price and the full market price will have to be paid by the buyer if they want to own the house outright or when the sell the property, or pass it on to their children.
“The price for a two-bed property ranges from €355,769 to €427,500, with the full market value set at €450.000. The price for a one-bed maisonette ranges from €264,358 to €308,750, with the full market value set at €325,383.
“According to Dublin City Council the typical gross income limit for eligible buyers will be €106,875 for the three bed homes, €96,188 for the two bed homes and €69,469 for the one bed homes.
“Yesterday at Leaders’ Questions, Micheál Martin claimed that the price of the €400,000 three bed homes on Oscar Traynor Road could be reduced further to €270,000 with the help of the First Home Scheme and Help to Buy. This claim is simply untrue as the First Home scheme can not be used for Local Authority Affordable Purchases.
“Micheál Martin either deliberately lied or he doesn’t understand his own housing schemes.
“Today on Morning Ireland, Paschal Donohoe deliberately failed to make clear that when a person buys one of the Government so-called affordable purchase homes, they don’t own it outright.
“The Dublin City Council website makes clear that the Council will purchase between 5% and 20% of the home. The state equity either must be bought out by the buyer if they want to own the home, or it will have to be paid when the property is sold or inherited by the owners’ children.
“The current market value of this equity can be as high as €100,000 on top of the initial purchase price.
“The Minister for Public Expenditure also failed to mention that when the land at Oscar Traynor Road was sold to the developer, Councillors were told that the purchase prices were to be fixed at ranges between €270,00 and €320,00 for a three-bed, €250,000 and €300,000 for a two-bed and €230,000 and €260,000 for a one-bed.
“Without explanation these prices have spiralled upwards by 29% for the one-beds, over 50% for the two-beds and almost 60% for the three-beds.
“Whatever way you look at it, these homes are not affordable for the vast majority of working people.
“Councillors were clearly misled in 2021 to secure their support for the land sale. If the land had been kept in public ownership and developed by the Council or an Approved Housing Body, the sales prices would have been genuinely affordable.
“But because of Fianna Fáil and Fine Gael’s sweetheart land deal with Glenveagh, the vast majority of hard-working people will be excluded from this scheme.
“It is any wonder that Micheál Martin and Paschal Donohoe are desperate to misrepresent what is a bad deal, not only for the taxpayer, but for all those working families who were promised affordable homes by this Government only to have their hopes bitterly betrayed.”
