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PRIVATE FINANCING COULD help to ease waiting lists for social rented housing in Ireland, according to a new report.
Clúid Housing Association’s report, which examined two countries that used such methods, asserts that private finance could help to provide homes to thousands of people currently on social housing waiting lists.
The report looked at how the UK and Canada successfully employ a private finance model and identified some of the key measures that would help to make private finance work in Ireland.
“Government funding can be employed more effectively by using it to leverage private finance which in turn will deliver more social housing. Other countries have taken to this model already and it has proved to return a much greater funding stream,” said Clúid’s Head of Policy, Simon Brooke.
The report called for an independent regulator for the social housing sector, noting that effective regulation was “the single most important element in creating an environment in which private funders can lend to associations with confidence”.
Clúid noted that the significant reduction in Government funding available to housing associations had led to an increase in those seeking private funding – either in the form of funding from banks or from the Housing Finance Agency.
It added that private funding is supported on a low level by Government and that, as “one of the biggest providers of social housing in Ireland”, Clúid is in a position to source this funding.
Ahead of the launch, Minister for Housing and Planning, Jan O’Sullivan said the Government saw the voluntary and cooperative housing associations as being “at the heart of social housing provision in the years ahead”.
She added: “The use of loan finance has the potential to develop a stronger, more sustainable funding base for social housing and the challenge for the sector now is to learn from experiences abroad as applied to the Irish context.”
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Do we really need to be building more houses? Surely it’s time for using empty stock on the books of nationalised lenders.
So the Cluid Housing ”Association”
a private company
wants to put us all in ”social housing”
Is this another way to try and debase Irish people’s property ownership rights?
Whats wrong with allowing Irish people to own their own homes in their own country?
It’s funny that the banks will fund Cluid and the likes to the hilt…..
whilst at the same time persecuting,harassing and scamming their loyal customers and owners, Joe Public.
Hi. Hi…
I agree with you . This is an old story .The journal did an article on this cluid shower a while ago and my opinion is the same now as it was then.The same as your own . . It is a con job to get more people into the rental market and away from owning any assets…
As I understand how a housing association works is they facilitate the rental and possible eventual purchase for those who for whatever reason cannot get finance to purchase their own house. I also understand that housing associations are actively trying to acquire existing housing stock rather than build their own. Not everyone has the means to exercise their property ownership rights so any move to provide housing is welcome.
Thumbs up Sean!
@ SeanNorris
If our banks (with the collusion of our government and media) stopped artificially inflating property prices,
thus allowing our homes to fall to their real value, then more of us would find the means to exercise our property ownership rights.
Most of us had our own homes before these Schiesters got involved.
Why get Cluid or more middle men involved (adding more expense).
Do you really think this is going to make homes more affordable?
There are tonnes of empty houses and apartments, we don’t need to build more.
have your say