The Housing Minister has promised an extra €696m to speed up the delivery of desperately needed homes, writes Ken Murray.

The cash includes €38m to refurbish vacant and derelict properties by supporting individuals who want to turn them into homes or rental units, and €50m to buy second-hand properties.

So far, almost 2,900 vacant and derelict homes have been brought back into use.

Minister for Housing, Local Government and Heritage James Browne yesterday said he is making the money available in capital funding.

On top of facilitating the delivery of 4,600 social and affordable homes, the funding will reactivate vacant stock, help address homelessness at community level, and continue support for homeowners affected by defective concrete blocks.

Mr Browne said: “We must respond to the crisis in a way that ensures the delivery of results – of homes for people and families to grow up and grow old safely in...

“This funding has been allocated in a way which will activate the necessary measures to continue sustained housing delivery.

“This funding allocation is a key part of that.”

The funding will see money allocated to areas that are central to housing development, and these include €184m to boost social housing delivery.

Some €100m will be directed to Approved Housing Bodies under the Capital Advance Leasing Facility (CALF) scheme to boost delivery of social housing, with €84m for local authorities to support their construction of new-build social housing.