Eoin O Broin and Darragh O'Brien trade blows over Shanganagh Castle affordable house prices

As Sinn Féin housing spokesman Eoin Ó Broin slated the cost of the new affordable home scheme in Shanganagh Castle, Shankill, Housing Minister Darragh O’Brien accused him of “opposition for opposition sake”.

Housing Minister Darragh O’Brien and Sinn Féin’s Eoin Ó Broin have started another public spat over the cost of a new affordable housing development.

As the Sinn Féin housing spokesman slated the cost of the new affordable home scheme in Shanganagh Castle, Shankill, Mr O’Brien accused him of “opposition for opposition sake”.

Taoiseach Simon Harris and Minister O’Brien cut the ribbon on the long-awaited south Dublin development on Friday morning.

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The project, delivered by the Land Development Agency (LDA), will deliver a total of 597 homes. Phase one includes 51 affordable purchase houses, 195 cost-rental apartments and 35 social apartments. Eligible buyers can apply to purchase the 51 houses on October 9, while the application portal for the cost rental apartments will open later this year.

Depending on an applicant's income, the cost of a two-bed home ranges between €334,600 and €430,200. A three-bed terrace home ranges between €349,930 and €495,000, depending on its size, while a three-bed semi-detached home ranges between €374,500 and €481,500.

In order to bring the price of affordable housing down, the State takes an equity share in the home and this comes off its price.

Deputy Ó Broin argued that when a person has to repay the equity share, the actual purchase price of the homes ranges from “€478k for a two-bed home to €550k for a three-bed home”

“While the initial purchase price is lower, the state takes an equity share of up to 30% of your home,” he said.

“If you want to own the home outright you can only pay the equity down in €10,000 lump sums. If you don't buy out the equity your children will have to pay it when they inherit the home.

“Buyers beware, is neither home ownership nor affordable housing. It is overpriced market housing that is unaffordable to the vast majority of working people.

“It confirms once again that Fine Gael and Fianna Fáil are neither willing nor able to deliver affordable homes.”

In response to these comments, Minister O’Brien said it was “no surprise to see Sinn Féin, the Party which said it would scrap the Land Development Agency, come out against the successful launch of Shanganagh Castle”.

“This is the very definition of opposition for opposition sake,” he said.

“Today the first phase of 597 high-quality houses and apartments including affordable purchase, cost rental and social homes were launched.

“The 51 affordable purchase homes begin at affordable prices from €334,600 – eligible buyers will be availing of these homes from that rate.

“The equity provided by the State is what makes these homes affordable for buyers. It’s laughable that the Deputy raises questions about home ownership when his alternative ‘housing plan’ is one where you don’t own the land the home is built on, he can’t confirm banks will provide mortgages for the homes and two average income workers are not eligible to buy the homes under his plan.”

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