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752 Residential Units In Kildare Have Been Ring-Fenced For Individual Buyers In The Last Year

File image: Rolling News

New data confirms measures to increase home ownership in Kildare are having an impact.

Some 752 residential units in Kildare have been ring-fenced for individual buyers in the last year,. according to new data released by the Department of housing

The Minister for Housing, Local Government and Heritage, Darragh O’Brien TD, has published a progress update on the planning measures he introduced one year ago to increase home ownership and restrict the practice of bulk purchasing by institutional investors.

It demonstrates that 752 residential units in Kildare have been ring-fenced for individual buyers and restricted from bulk buying or multiple sales to a single purchaser.

In May 2021, Ministerial Guidelines for Planning Authorities “Regulation of Commercial Institutional Investment in Housing” were issued to planning authorities, including Kildare County Council in order to prevent multiple housing and duplex units being sold to a single buyer. 

The Guidelines included requirements that a new form of condition be inserted in applicable new planning permissions, to the effect that:

  • all houses would have to be made available for sale and for first occupation by separate, individual households for a period of two years after completion of the home. (In the case of mixed developments, the provision only applies to the houses and duplex units and not apartments.);
  • exempts housing to be provided for social or affordable purposes from this requirement; 
  • and if, after a period of two years, the local authority is satisfied that despite reasonable efforts, a market has not emerged, the condition will lapse.

As of 18th May 2022, An Bord Pleanála advised that it had applied the planning condition prohibiting multiple sales to a total of 7,988 residential units across 23 Strategic Housing Development (SHD) planning permissions.

Furthermore, of the 31 local authorities, 23 confirmed that they have permitted 7,895 residential units with a condition attached to prohibit multiple sales.

Among these, Kildare County Council permitted 752 residential units with a condition attached to prohibit multiple sales.

Nationally, in a one-year period, a combined total of 15,883 homes have received planning permission with conditions restricting the bulk buying or multiple sales to a single purchaser.

The Ministerial Planning Guidelines are part of a series of Government measures designed to prohibit the bulk buying of houses and duplexes in order to increase housing stock for home ownership.

Other measures include a 10% stamp duty levy on the cumulative purchase of 10 or more residential houses in a 12 month period.  

 

 

 

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