The Government has implemented a range of measures in recent years to ensure a balanced housing market across all tenures, including home ownership, social housing, and private rental.
In May 2021, conscious of the need to increase stock for home ownership, the government introduced a series of measures designed to prevent the bulk buying of houses and duplexes. The Section 28 Guidelines for Planning Authorities “Regulation of Commercial Institutional Investment in Housing” aimed to prevent multiple housing and duplex units being sold to a single buyer.
These guidelines seek to ensure that new ‘own-door’ houses and duplex units in lower-density housing developments should no longer be bulk-purchased by institutional investors in a manner that causes the displacement of individual purchasers or social and affordable housing, including cost-rental. The measure does not apply to apartments or housing set to be provided for social or affordable purposes.
The Guidelines include requirements that a new form of condition be inserted in applicable new planning permissions, to the effect that:
(1) all houses would have to be made available for sale and for first occupation by separate, individual households for a period of years after completion of the home. (In the case of mixed developments, the provision only applies to the houses and duplex units);
(2) exempts housing to be provided for social or affordable purposes from this requirement; and
(3) 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.
These measures have succeeded in preventing the inappropriate bulk purchase of a very significant number of homes and securing those homes for purchase by homeowners, with planning permission granted for over 63,962 units with conditions prohibiting bulk purchase by, or multiple sale to, a single purchaser of those homes since May 2021. Out of this 63,962 figure, 3,643 relate to conditions attached to permissions granted by South Dublin County Council, a further 9,175 relate to permissions for Strategic Housing Developments granted by An Coimisiún Pleanála, some of which may include sites within the South Dublin County Council functional area.