Outrage over Maynooth homes as Social Democrats bill comes before Dail today

The Social Democrat's housing bill comes before the Dáil today, which aims to encourage more social housing to be built and bought rather than being leased by local authorities.

Social Democrat Co Leader, Catherine Murphy says :"This evening the Social Democrats will be putting forward a bill to enhance the provision of social and affordable homes. This bill, put forward by my colleague Cian O'Callaghan, will end the disastrous policy of long-leasing social housing under Part V of the Planning and Development Act.

"Last week we all saw the carnage being caused by cuckoo funds when Round Hill Capital block-purchased 135 family homes in Mullen Park, Maynooth. Since 2018, investment funds have spent €4 billion on residential property in Ireland. Ordinary buyers, who have to scrimp and save for years for a deposit, cannot compete.

"When funds buy these homes, they turn them into rental properties. They are leased to the State, for social housing, at exorbitant rents. The State pays the mortgage in these deals, while the cuckoo funds keep the homes.

"Yesterday at Leader’s Questions, I raised this (again) with an Taoiseach, Micheál Martin. He told me that what occurred in Maynooth was 'unacceptable'. He also stated that the Government will not oppose our bill and will work with Cian to see it enacted. This was a welcome commitment, but we’re not there yet. I would encourage everyone to contact your government TDs and make sure they know the Irish people are demanding a change to their disastrous housing policy."