The Government's new housing plan promises that a minimum of 300,000 new homes will be built by 2030, including a target for the State to deliver 72,000 social homes.
Taoiseach Micheál Martin denied that the absence of annual targets meant there would be no accountability.
David Murphy outlines five takeaways from the new plan.
LDA the big winner
Perhaps the biggest winner from the latest housing plan is the Land Development Agency.
It is the State body responsible for developing affordable housing.
Today's plan confirms it will receive an additional €2.5 billion, giving it a total of €8.75 billion, of which €1.25 billion is borrowings.
While well flagged, it does give the LDA enough financial firepower to finance its activities until 2030.
Its role is also expanded to cover a wider geographical area and to acquire more land.
Over the coming years, the LDA is going to have to consider recycling some of its money by selling some of its properties or partnering with a fund.
No annual housing targets
This housing plan has no overall targets for the number of homes which it hopes to see built annually.
That is a significant change from the previous programme, which set forecasts for each year.
Instead, today's plan promises 300,000 homes by the end of 2030. Including this year's housing output, that is an average of 50,000 homes per annum.
The argument put forward by the Taoiseach is that including specific annual targets for the overall housing market was a 'no win' for the Government.
The Coalition was criticised for a lack of ambition when the projections were exceeded and ministers took more flak when forecasts were missed.
But there is another factor.
The Government can't control how many homes are delivered by the private market.
About half of the new homes are built without State support.
The job of the Cabinet is to create conditions for residential construction. It is up to developers to decide whether to proceed or not.
Solving the apartment problem
Today's plan needs to be seen in the context of wider changes introduced by Minister for Housing James Browne to increase the construction of apartments after they recently stalled.
The relaxation of building standards for flat complexes, significant changes to rent controls and a reduction in VAT from 13.5% to 9% on apartments will help stimulate activity.
Those steps were in response to last year's disastrous housing figures which fell far below expectations, partly due to a 24% drop in apartment construction.
There are now indications that developers will go ahead with projects which had stalled.
But it could take two to three years before there is a significant increase in completions.
What is the plan for first-time buyers?
The State's two schemes which aid first-time buyers will continue until the end of 2030.
The Help-to-Buy programme allows a purchaser to reclaim up to €30,000 in tax paid in the past from the Revenue Commissioners towards a deposit.
The First Homes scheme, in which the State takes a stake in a first-time buyers home, will also be continued.
It is also being extended to include derelict properties which are being brought back into use.
The criticism of both programmes is that by giving purchasers more money, they simply add to property prices without increasing supply.
Infrastructure: Lots of money won't solve everything
The housing plan commits huge sums to boost infrastructure to ensure housing projects proceed.
That includes finance for water supplies, transport connections and extending the electricity grid.
But many large projects are being held-up in the courts.
Perhaps the most critical is the Greater Dublin Drainage Scheme, which will treat sewage from Dublin, Kildare and Meath. The original planning application for the project was submitted in 2018.
It is currently being delayed by a judicial review. It is critical to the provision of future housing.
If delayed any further, it could jeopardise the ability of local authorities to give planning permissions for new homes from 2028 onwards in north Dublin.
Today the Taoiseach indicated that the Government is prepared to introduce new bespoke legislation to ensure the Greater Dublin Drainage Scheme and other important infrastructural projects go ahead.
He said new measures will be brought to Cabinet in the coming weeks but acknowledged they too could face legal challenges.
"The risk appetite is changing in terms of getting things done."
He added: "This is a project that cannot wait."
Read more: Government defends removing targets from housing plan
