The Government has welcomed the latest update on the progress of the planning measures implemented three years ago to boost home ownership and curb the bulk purchasing of homes.

The update reveals that 49,828 houses and duplexes received planning permission with conditions restricting bulk buying or multiple sales to a single purchaser, ensuring they are reserved for owner-occupiers between May 2021 and May 2024. Nearly 20,000 of these homes were ring-fenced in the past year alone.

The Ministerial Planning Guidelines are part of a series of government measures aimed at prohibiting the bulk buying of houses and duplexes to increase the housing stock available for home ownership.

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Other measures include a 10 per cent stamp duty levy on the cumulative purchase of ten or more residential houses in a 12-month period.

Commenting on the data, The Minister for Housing, Local Government and Heritage, Darragh O'Brien said: "In May 2021, I introduced changes to the planning system to protect traditional family homes from commercial institutional investors bulk purchasing them in competition with the owner-occupier market.

"This data confirms that the interventions have worked and have helped level the playing field for traditional home buyers, including first-time buyers, while at the same time, continuing to facilitate investment in the construction of new homes, particularly those high-density apartments which would not otherwise be built.

"In addition to limiting bulk purchases, we are also increasing the supply of housing as evidenced by the latest figures showing record new home starts and completions. This government is committed to supporting home ownership, and thanks to the policy measures in Housing for All, the aspiration of becoming a homeowner is increasingly coming true for a growing number of people."