The Labour Party has promised to reform the current stamp duty regime, introduce a new joint-purchase scheme for low-income families, and require up to half of newly zoned land be set aside for social and affordable housing.
In a new 10-point plan for the housing sector, the party has also proposed to allow for the compulsory purchase of development land in "affordability blackspots" where even the cheapest homes are beyond the reach of middle- and low-income earners.
Labour has promised to increase social housing output to 10,000 units a year from its current rate of 4,000, to address a housing waiting list of 45,000.
Unveiling the proposals, Labour environment spokesman Eamon Gilmore also attacked the Government and claimed it had sided with "mega-rich developers rather than the needs of the people".
The party's proposals include reform of the rent allowance scheme which is paid only to those on social welfare, and which Labour says encourages people to remain out of work. This would be replaced with a housing support payment based on income, regardless of source.
The party also proposes changes to the stamp duty regime, where people would not have to pay stamp duty on the first €317,000 of a house's price, provided it is the principal residence. The tax relief would also be tied to inflation. Mortgage interest relief would also be improved.
Another key proposal is for a new "Begin to Buy" scheme which would increase the scope of the current "joint ownership scheme".
People would be assessed for their housing needs and the State would purchase up to 75 per cent of a specific property, with the remainder being owned by the applicant.
Occupants would have the opportunity to increase their share of the home, and would also be free to sell their share and use it to buy another home if their needs changed.
Labour has also promised to remove "escape" clauses from the current planning act, which in principle set aside one-fifth of all developments for affordable housing schemes.
This clause was relaxed in late 2002 to allow developers to pay money or provide sites in lieu of this requirement.
Labour said yesterday that the clause should be providing 6,000 homes a year at this stage, but that only 3,000 affordable homes have been delivered in five years.
In addition to tightening up affordable housing requirements, the party is also proposing that up to 50 per cent of newly zoned housing land be set aside for social and affordable housing.
Local authorities should also have the power to intervene to compulsorily purchase housing land if there is a need for affordable housing in a specific area.
Labour says it will also reverse the current policy of selling off surplus State-owned land, such as land around Army barracks.
It aims to eradicate homelessness by 2010, a target called for by housing support charities.