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‘Four Years’ Until Dublin’s Housing Supply Improves – Industry Survey

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The majority of experts in the real estate industry believe that the supply of housing in the capital will not improve for at least four years.

This is despite an increase in housing starts over the past year as the construction sector accelerated construction.

But the results of a survey released today by law firm Mason Hayes & Curran paint a pessimistic view of the ability to address the housing crisis in the short term, with 57pc believing it will take at least four years.

Just two percent of professionals polled today at the Future of Property conference in Dublin believe the housing supply in the capital will improve over the next year.

And 43 per cent believe the country’s planning process is the biggest obstacle to providing the housing Ireland needs.

Most respondents – 81 percent – do not believe that a change in government will lead to a significant improvement in the housing supply in the short term.

According to 76 percent of those surveyed, the current 2 percent upper limit for checking apartment rents is not high enough in the short term given the inflationary background.

“There are significant challenges in housing and the Government knows this,” Housing Secretary Darragh O’Brien said in a speech to the conference today.

“That’s why we launched our Housing for All plan, which puts us on track to create 300,000 social, affordable and private homes by the end of 2030,” he added.

“Any long-term solution to our current crisis will require the whole system to pull together to achieve our common goal of building, buying or renting more and better homes at affordable prices,” he said.

That Irish Independent reported earlier this week that buyers earning €100,000 are eligible for a government affordable housing scheme that gives them interest-free subsidies.

This has incensed the opposition.

Of the professionals surveyed by Mason Hayes & Curran, 29 percent identified improved resource delivery for local government and Aboard Pleanála as a top priority. A reduction in the number of judicial reviews of building permits was considered a priority by 43pc.

Home price growth has hit a seven-year high, with the cost of a home rising 15.2 percent in the year to March, figures released this week showed.

https://www.independent.ie/business/four-years-before-housing-supply-in-dublin-improves-industry-survey-41663355.html ‘Four Years’ Until Dublin’s Housing Supply Improves – Industry Survey

Fry Electronics Team

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