Speaking after the launch of the Real Cost of New Housing Delivery Report 2020 by the Society of Chartered Surveyors Ireland, Sinn Féin spokesperson on Housing Eoin Ó Broin TD said that “the report confirms that the only way to guarantee the delivery of genuinely affordable homes for hard working people is by delivering public housing on public land.”

The report surveyed the cost of 30 active housing developments currently underway in the Greater Dublin Area.

Teachta Ó Broin said: “I want to welcome the publication of the Real Cost of New Housing Delivery Report 2020 by the Society of Chartered Surveyors Ireland. This is the third such report and they are an important resource for policy makers to have.

“The research shows that the delivery cost for a three-bed semi has jumped to €371,3112 – a 12% increase of €40,818 – since the SCSI published its last report. It also shows that it is non construction costs driving unaffordability in the market.

“For the first time, the SCSI report includes a direct comparison of the cost of delivery in the private and public sector.

“The report states that it costs on average between €140,000 and €160,000 less to deliver a three-bed semi-detached social home than it does to build the same in a private development scheme. This means that local authorities can deliver affordable homes for sale at €230,000 or less.

 “This confirms the argument that many of us have been making for years that only public housing on public land can deliver genuinely affordable homes for working people.

“Sinn Féin support many the recommendations in the SCSI report, including the need for a public register of land prices and greater investment in public housing. However, we do not support the continuation of the the Help to Buy scheme and a shared equity scheme.

“These schemes will at best maintain current inflationary house prices or at worst increase them even further.”