Sinn Féin’s housing policy will “crucify” first time buyers, the Tánaiste has claimed. 

Yesterday, Mary Lou McDonald confirmed her opposition to the Help to Buy scheme which allows first time buyers to claim back up to €30,000 from the cost of a new build. 

The Sinn Féin President believes the scheme inflates prices and said she would phase it out. 

The party also opposes the First Home scheme which allows the State to take an equity stake in the home of a first time buyer. 

We have the plan and we are the party to ensure that you and your family can have an affordable home whether that’s to rent, to buy or a council home.

A Sinn Féin led Government will start delivering this plan from day one in government.

Vote to change the government. Vótáil… pic.twitter.com/acYoXUvWbx

— Mary Lou McDonald (@MaryLouMcDonald) November 12, 2024

On The Pat Kenny Show, Tánaiste Micheál Martin described homeownership as a “key” issue for Fianna Fáil. 

“That’s why we’re saying to young people who are looking to buy houses, we will keep the Help To Buy scheme going till 2030,” he said. 

“That enables you to plan properly and that support will be available to you and the First Home Bridge the Gap scheme - that also will be available to you until 2030. 

“Young people are saving, they’re trying to get the deposit and they need to know these things. 

“Sinn Féin are saying they’d get rid of those things - which I think would crucify first time buyers.” 

Minister Martin said Sinn Féin’s policies would create “too much uncertainty, disruption and delay” in the housing market. 

Increase supply

Last year, 32,000 new homes were built in Ireland and Fianna Fáil has pledged to nearly double that figure to 60,000. 

The party hopes the target can be met by 2030 and Minister Martin said the party would achieve this through investment in infrastructure. 

“We’re going to use the Apple money for water infrastructure which will enable us to get a lot more houses built a lot more quickly,” he said. 

“Water connections are important and wastewater treatment plants are important. 

“Investment in the energy grid as well; investment in housing itself as well through the Land Development Agency. 

“We’ve already given €1.2 billion in the last budget and we will ramp that up over the next number of years.” 

A construction worker at a site on George's Street Dublin, 16-03-2021. Image: Sasko Lazarov/RollingNews.

As rents across the country continue to spiral, Minister Martin said building more social homes would relieve pressure on the private rental sector. 

“I believe there has to be a consistent level of social housing built in this country on an annual basis,” he said. 

“This year, we will deliver 12,000 social homes - made up of over 8,000 new builds and the rest through acquisition.

“Where we want to get to is about 12,000 per annum new build social houses and do that on an annual basis,” he said. 

“That will deal with the social housing waiting lists and also take the pressure off the private sector.” 

In September, there were a record 14,760 homeless people - the highest since records began and a figure 15% higher than in September 2023. 

Main image shows Tánaiste Micheál Martin in the Newstalk studio. Image: Newstalk