Only 8% of an almost €200million Government housing fund has been spent three years after it was launched, new figures have revealed.
The money was to be used for infrastructure such as roads and water to prepare sites for construction.
But so far just over €16million of the €195million allocated to the Local Infrastructure Housing Activation Fund has been drawn down.
Fianna Fail’s housing spokesman Darragh O’Brien described the rate of spending, revealed in Department of Housing data, as “shockingly low”.
He added: “It has delivered just 814 homes out of 19,979 after three years.
“The major time lag between Government promises and delivery is compounding the housing crisis.”
The fund forms a core part of the Government’s Rebuilding Ireland policy to tackle housing and homelessness and was described as a “key initiative” by Housing Minister Eoghan Murphy.
A total of 30 major infrastructure projects have received final approval to facilitate the delivery of almost 20,000 new homes across public and private sites by 2021.
Mr O’Brien said: “LIHAF was a flagship policy to deliver affordable homes but it seems to be sinking under the weight of delays.
“The three-year time lag raises serious questions around the effectiveness of the fund and its operation. Clearly red tape is clogging up drawdowns.”
Mr Murphy revealed that of the 19,979 properties due to be completed by 2021, 7,986 would be affordable and cost-reduced homes.
He added: “As more projects progress further through construction/completion of infrastructure works it is expected the drawdown will increase significantly during the rest of 2019 and 2020.”
