UP TO half of homes on new housing developments will be reserved for all owner-occupiers - and not just first-time buyers - under plans going to Cabinet on Tuesday evening.

Housing Minister Darragh O'Brien will introduce a new "owner occupier guarantee" via legislation which will enable local authorities to designate as many as 50pc of units in a new development for owner occupiers.

The measure will be similar to the Part V provision of planning law that currently designates 20pc of homes in a development for social and affordable housing.

Mr O'Brien is also seeking ministerial approval to issue a circular from the Department of Housing under the Planning and Development Act requiring local authorities and An Bord Pleanála to prohibit bulk buying of houses and duplexes.

The proposals are part of the Government's effort to crackdown on so-called cuckoo funds bulk buying homes on new housing estates.

Finance Minister Paschal Donohoe is also seeking Cabinet approval to increase stamp duty on investment funds and other entities who bulk-buy homes on housing estates.

Under Mr Donohoe's proposal, the purchase of more than 10 homes at once will be hit with stamp duty of 10pc with exemptions for local authorities and approved housing bodies. This measure will not apply to apartment blocks, however.