Up to half of houses in new schemes to be reserved for owner-occupiers

Local authorities will be empowered to set aside up to 50 per cent of homes in new developments for owner-occupiers under proposals to be considered by Cabinet on Tuesday.

The move is part of Government efforts to stop investment funds from bulk buying housing estates after it transpired that entire developments had been purchased by funds, squeezing out individual homebuyers.

Minister for Housing Darragh O'Brien is to bring a proposed amendment to planning and development legislation to recognise owner occupiers for the first time in planning law.

It is understood the amendment would enable local authorities to specify a proportion of properties in new developments – of up to 50 per cent – for owner occupiers.

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The proposal adds to guidelines issued by the Department of Housing in May aimed at stopping the bulk buying of homes by investment funds.

The guidelines are said to be already being applied by planning authorities to protect estates in a number if recent decisions.

The amendment to the law is being brought forward to strengthen the guidelines by requiring local authorities to include projections of the need for owner-occupier units in their housing plans and subsequent planning decisions.

The goal is to help “level the playing pitch for individual buyers”.

Investor roadshow

There was criticism from Sinn Féin in recent days of Government plans for an investor roadshow during which Ministers would target financial institutions and funds in seeking to attract “sustainable investment in residential accommodation”.

The Department of Finance has said the events were envisaged as part of moves to encourage investment in homebuilding under the Housing for All plan and would go ahead.

Separately, the Irish Times understands that senior Coalition figures are set to meet on Tuesday to discuss work on a scheme to help homeowners whose properties have been damaged by faulty bricks containing mica.

Representatives of the homeowners in Donegal, Mayo and other counties are seeking 100 per cent of the costs of repairing or replacing their homes.

They argue that inadequate building regulations led to the defective construction materials to be used on their homes.

Sources said that progress was being made on developing the redress scheme and it is nearing completion but it is not expected to be finalised at Tuesday’s meeting of senior Ministers.

The Cabinet is also expected to be updated on the Covid-19 situation including the number of cases – which remain high – and the rollout of booster vaccines.