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Investment in social housing is needed from ISIF - Doolan

29 July, 2015 - by Daithí Doolan

Sinn Féin's Dublin City Councillor Daithí Doolan has said that while new government proposals to support private developers with €325m from the Irish Strategic Investment Fund will increase private housing, similar investment is needed in social housing.

Cllr. Doolan, chair of Dublin City Council's Housing SPC, said;

"We are in the middle of the most serious housing crisis in the state's history. We need state investment in a public housing programme. Of course more rental housing on the market can help but only if it is affordable and offers security of tenure. Right now over 100,000 people do not have adequate housing because they cannot afford the rates landlords are setting in the private market. The real solution is to provide more social and affordable housing. 

“We already subsidise private landlords by nearly half a billion euro a year. More private housing without the provision of adequate social housing will only lead to increased subsidies in the years to come.

“There is no guarantee these homes would be sufficiently affordable to bring down rents across the market or to provide for low income families. Most likely the state would continue to subsidise the developer in the years to come by paying rents through RAS, HAP and social leasing initiatives, costing more money in the long run.

“Funds from the Strategic Investment Fund must also be used to build social and affordable housing. Social housing is the only avenue which offers affordable rates to low income families and addresses the high levels of housing need and homelessness. It will also present savings in the long term by reducing rent subsidy and emergency accommodation costs."

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