144. Deputy Darren O'Rourke asked the Minister for Housing, Local Government and Heritage the measures he is taking to address the lack of affordable housing in County Meath; and if he will make a statement on the matter. [3349/26]

Sentiment score: -0.10

Affordability is the single biggest housing issue in County Meath. So many people who are working are above the social housing threshold but they cannot get a mortgage. The numbers the Minister talks about are nowhere near enough. In addition, they are not affordable. I can give the example of Foxwood Park in Kells that is about to come on stream. I am sure they are fine houses and the people who get them will be absolutely delighted to have them but they are far too expensive. They are not affordable. They are advertised as three-bedroom terraced houses with a minimum purchase price of €322,500 but with an asterisk on it. The asterisk is doing a huge amount of work because the actual price that someone will pay to buy and own that property is €405,000. That is simply not affordable. Does the Minister agree?

Sentiment score: 0.10

Could I specifically raise the issue this time round in relation to the design of the scheme? The question specifically relates to the redemption and realisation of the council equity. I do not think people are aware of the fact that there is a premium on the council equity. If it is 10% on a house costing €405,000 today, the percentage relates to the current market value. If I am in that property for 30 years and I am looking to draw down on the council equity, if the property is worth €450,000 or €500,000, I am required to pay 10% of the current market value at that stage, and I have to pay in lump sums of a minimum of €10,000. They are very significant issues. It is a cruel aspect of this scheme. It is a premium on the council's equity. I do not think people are aware of that fact. Why did the Minister design the scheme in that way? Does he acknowledge that it is an unfair premium?

Sentiment score: -0.01