Housing Minister Says New Plan Will Create 27,000 Jobs In Construction Sector

The Housing Minister says the shared equity scheme will be available by mid-November.

The scheme will help first time buyers to bridge the gap between what they can afford and the cost of a new build property.

The State will take a stake in the property, which will be free for the first five years followed by a low interest only payment thereafter.

The plan commits to delivering 300 thousand homes by 2030, something Minister Darragh O'Brien admits will be a challenge.

Meanwhile Sinn Fein says the Government isn't doing 'the one thing' it needs to do in order to ease the housing crisis.

The party says the government is not dramatically increasing the amount of capital investment in social housing, to deliver the 20,000 social homes that are needed every year. 

Sinn Fein's Housing spokesperson, Eoin O'Broin, also says the plan will not help the housing problem in the short term.