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Nama to build 80 new homes a week over next five years

Most of these will be houses and there will be a focus on starter homes.

IT WAS THE first Budget announcement to cause a stir in the Dáil chamber but it won’t be the last today: Finance Minister Michael Noonan revealed Nama is planning to build 20,000 homes by the end of 2020.

As roars came from opposition benches, Noonan asked if they had a problem. Several questioned how many of these would be social housing, a section the minister said would be dealt with at a later stage by two of his colleagues.

Source: Video TheJournal.ie/YouTube

As the commotion died down, he said 90% of these houses will be built in the Greater Dublin Area and 75% will be houses.

Source: NAMA

Nama will be “working with developers” to achieve the target, Noonan told TDs, and there will be a focus on starter homes.

Source: NAMA

The plan is to have an average of 80 new homes built every week by the end of the five year period.

Though everyone recognises something has to be done about the housing crisis, Noonan’s announcement is not exactly going down well:

Niamh Randal, spokesperson for homeless charity the Simon Communities did welcome the move but she sought clarification that these would be affordable housing units.

In his speech, Minister for Public Expenture and Reform Brendan Howlin told TDs the allocation for social housing will be increased a further €69 million to €414 million, which will enable local authorities to secure accommodation for an additional 14,000 households.

Read: All the breaking news from today’s Budget

BUDGET 2016 LIVE: The announcements, as they happen

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