Michael O'Flynn says Government has to tackle high cost of building homes
A Cork developer says the Government needs to tackle the high cost of building a home before affordable housing can be tackled.
At the time he called for support for first time buyers through an extension of the Help to Buy Scheme, the lowering of VAT rates, and the introduction of joint equity schemes for people looking to get on the property ladder.
Cabinet is today expected to approve plans to stop investment funds from bulk-buying new housing developments.
Ways of preventing 'cuckoo funds' from snapping up homes at the expense of first-time buyers are also to be discussed.
Speaking this morning Michael O'Flynn says there are still a lot of costs associated with constructing the homes.
"Viability issue on one side, and affordability issue on the other.
"We're still talking about the 13.5% VAT, we're talking about levies and we're talking about taxes, we're talking about land costing too much, and we're talking about a situation where the National Planning Framework, which is very commendable, talks about brownfield development - brownfield development is very expensive development."
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