The Irish Council for Social Housing (ICSH) has said that Budget 2024 represents a reassuring continuation of the Housing for All multi-annual investment programme to support AHB housing delivery targets on a continual basis.
A €5.1bn capital investment in housing, 2.6bn exchequer, €978m Land Development Agency (LDA) and €1.5bn Housing Finance Agency (HFA) funding, has been committed for 2024. Total Exchequer funding available in 2024 is €4.1 billion comprising capital expenditure of €2.6 billion and a €1.5 billion social and affordable housing current expenditure commitment. Compared to the 2023 allocation, an additional €177 million in current expenditure and an extra €353 million in capital expenditure over the 2023 NDP ceiling is being allocated to the Department of Housing, Local Government and Heritage in 2024.
Key Social & Affordable Housing Measures inlude the following.
Capital Funding
- €1.9 billion to deliver 9,300 new-build social homes, 200 additional homes on 2023 and an increase of €155m on the 2023 allocation, under the Local Authority Housing, Capital Advance Leasing Facility (CALF) and Capital Assistance Scheme (CAS)
- This includes: CAS allocation of €140m (an increase of €3m); CALF allocation of €315m (an increase of €5.5m) .
- The €5.1 billion capital funding being provided in 2024 (including LDA investment of €978m and €1.5bn HFA funding) to finance delivery of over 6,400 new affordable purchase and cost rental homes to include: AHB delivery of 800 Cost Rental homes via €100 million provided in the Cost Rental Equity Loan (CREL) mechanism, an increase of €25 million on 2023
- 2,130 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) (400 fewer than in 2023).
- An acquisition fund of €35 million, administered by the Housing Agency, will be used for Housing First acquisitions.
- €21 million is provided to deliver Traveller-Specific Accommodation for members of the Traveller community, an increase of €1 million
- €75 million will fund more than 13,000 grants to adapt the homes of older people and people with a disability, an increase of €8 million
- Disbaled Persons Grant/Improvements/Remedials capital allocation of €25 million No chnage on 2023)
- Housing for People with a Disability & Older People capital allocation is €1.3 million (no change on 2023)
- €90 million is allocate for the for the Energy Efficiency (local authority) Social Housing Retrofit Programme, an increase of €3 million
- €70 million is being provided for the remediation of homes affected by defects in 2024 (Details on emergency interim funding measures for those impacted by apartment defects will be available from November 2023).
Current Funding
- Total available funding of €517 million (an increase of €75 million) under the Social Housing Current Expenditure Programme (SHCEP) will support the delivery of over 6,000 additional social housing homes in 2024, as well as continuing to support over 34,000 homes already in place.
- 2,130 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).
- Funding of €242 million will be made available for the delivery of homeless services, an increase of €27 million.
- Funding of €111 million for the Rental Accommodation Scheme (RAS) will support a further 1,400 households in 2024, along with the ongoing cost of supporting almost 16,000 households already in the scheme (100 more households than in 2023)
- An allocation of €525 million for the Housing Assistance Payment (HAP) will enable 8,800 new households to be supported in a tenancy in 2024 as well as continuing to support almost 58,000 households that were in tenancies at the end of 2023. (400 fewer households than in 2023)
- Housing for People with a Disability & Older People current allocation is €2 million (an increase of €200,000)
- Additional funding of €2.2 million has been allocated to the Approved Housing Body Regulatory Authority
- To support the rental sector, the Residential Tenancies Board (RTB) and other advocacy supports will receive funding of €13.4 million.
- In 2024, the Housing Agency will receive funding of €17.2 million and the AHB Regulatory Authority will receive €3.3 million, an increase of €2.2 million