Calls have been made to the Irish Environment Minister to "take the market out of housing".

Irish Council of Social Housing director Donal McManus said the current situation provided an opportunity for John Gormley to reform the housing system.

ICSH suggested a number of measures to reform, what it referred to as "the now defunct housing market".

The government should ensure 10,000 units of social housing is obtained from NAMA portfolio, as well as preserving land bank for future social housing needs.

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Anti-speculative measures including a planning gain tax should be introduced, according to ICSH.

Government legislation should tighten regulation on mortgage levels and ensure independence of role of valuers in private market, the council also said.

Mr McManus said: "Given that this year almost half of all housing developed will be public housing, it is a now or never chance to change how we provide homes for all.

"It is time to reform the system that allowed ‘super-normal’ profits which almost left us bankrupt as a state," he said.

"The price of land was allowed to drive up the price of homes and that should not be allowed to happen again."

(PR/BMcC)