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Budget 2023: Key Social & Affordable Housing Measures

The Irish Council for Social Housing (ICSH) has said that the Budget 2023 €2.6 billion capital and €1.4 billion current social and affordable housing investment commitment reassures with a sustained multi-annual funding of €4 billion, and signals shared purpose by a coalition government in response to a housing crisis that will remain challenging for the foreseeable future.

  • Capital funding of €2.6 billion has been allocated for Housing in 2023, most of which (€1.7 billion) will be used to deliver over 9,100 new social homes through build and acquisition programmes and 5,500 affordable homes for purchase and for cost rental.
  • Budget 2023 has increased the Cost Rental Equity Loan (CREL) fund from €70 million to €75m to enable the sector to ensure the delivery of 750 homes over the coming year. In total in 2023 there will be €215 million, an increase of €40 million, allocated to three key affordable schemes; the Local Authority affordable purchase scheme, the AHB Cost rental scheme and the national First Home Shared Equity scheme. These schemes will support the delivery of over 5,000 affordable homes next year.
  • CAS funding for 2023 is at €97 million. A €1m increase on 2022.
  • €443 million has been allocated for the SHCEP programme (supporting 6,500 new homes and 27,600 existing tenancies). This represents a €99 million increase on the 2022 allocation.
  • 2,530 new social homes will be delivered through various leasing schemes (including Mortgage to Rent and Repair and Lease) delivered by local authorities and approved housing bodies (AHBs).
  • To tackle homelessness €215m (a €21 million increase) is being provided to ensure that homeless prevention services, emergency accommodation and other services are provided and to achieve a target of 1,300 new Housing First tenancies.
  •  €136m has been allocated to support the advancement of 132 Urban Regeneration and Development Fund (URDF) supported projects already approved and for the targeted expansion of the programme to accelerate new supply and tackle vacancy in towns as part of the Town Centres First approach.
  • €61 million is being allocated to schemes to tackle vacancy and promote regeneration in urban areas by addressing vacant social homes and funding the Croí Cónaithe schemes.
  • €219m in funding is in place for programmes and supports for disabled people, older people and Travellers.
  • This includes €20 million in capital funding to deliver Traveller-Specific Accommodation.
  • €67 million to fund 12,300 grants to adapt the homes of older people and people with a disability.
  • A further €25 million will support adaptation works to 1,800 existing social homes.
  • €87 million being allocated to the retrofitting of (local authority) social housing in 2023.
  • €65m is being provided to remediate homes affected by defects including Pyrite and Defective Concrete Blocks
  • On Building Defects, the Minister will establish an inter-departmental and agency group to bring forward specific proposals to Government by the end of the year.
  • The Residential Tenancies Board (RTB) will receive funding of €13 million in 2023.
  • In 2023, the Housing Agency will receive funding of €13.7 million and the AHB Regulatory Authority will receive €3 million.
  • €10.25 million will be provided for local authority inspection activity in the rental sector and for the regulation of short-term lettings.