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Tuesday 23 September 2014

Housing strategy plan to support 'quicker delivery of new homes'

Sam Griffin

Published 05/08/2014 | 12:41

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The society said only 8,000 new homes were built in Ireland last year
The society said only 8,000 new homes were built in Ireland last year

A builders finance fund, a reduction in tax and a move towards family friendly apartments are all required to escape the housing crisis, the country's chartered surveyors have said.

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The Society of Chartered Surveyors today published a ten point housing strategy plan which it says will support "a quicker delivery of new homes" to meet the supply shortage in Dublin and across the country.

The society said only 8,000 new homes were built in Ireland last year and there is now a need for 80,000 new units, with around 16,000 per annum over the next five years.

To kickstart house building, the society has called for a reduction in development contributions for two years and a reduction in VAT on new home construction from 13.5pc to 5pc.

It also wants a vacant site levy on strategically important sites to tackle speculators sitting on idle land and wants Nama to licence developers to build on such sites within is portfolio.

The SCSI had also called for a local property tax exemption for older couples and those who opt to "trade down" to smaller units.

It has also asked that the government introduce a Revolving Infrastructure Fund (RIF) to finance infrastructure provision upfront like in the UK.

The society's chairman Simon Stokes said Budget 2015 was an ideal opportunity to implement the proposed measures.

"Our strategy document focuses on practical steps which can accelerate the delivery of new homes; " he said this morning.

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