Senator welcomes new shared equity scheme for affordable housing in Laois

The Government’s new shared equity scheme for affordable housing proposes a price cap of €250, 000 on houses, in Laois.

Senator Fiona O’Loughlin has welcomed the Affordable Housing Bill which was published at a Cabinet meeting on Tuesday.

“First-time buyers can also avail of the existing Help-to-Buy Scheme which gives tax relief up to 10 per cent of the property’s value (to a maximum of €30,000),” said Senator O’Loughlin.

“The lack of affordable housing is one of the biggest issues we face in Laois and this Bill is very positive news for us today.  It provides for the introduction of three new schemes to put affordability at the heart of the housing system and prioritise the increased supply of affordable homes. It is vital to open up home ownership opportunities. This bill sets out a new legislative basis for direct state led construction of affordable homes for purchase.  I hope it will help young working people who are caught in the rental trap to be able to afford their own home.  The scheme will increase housing supply as it helps to improve viability by bridging the gap between the maximum mortgage that might be available to a household and the actual cost of a new home for ordinary income families.” The price cap for Laois is based on the median prices in the county