Ask the experts: What are your views on 'Rebuilding Ireland', Minister Simon Coveney's plan to sort out the housing crisis?
There is no doubt that Simon Coveney has committed himself to resolving this crisis, and the plan incorporates a multi-faceted approach to resolving the crisis to provide the 25,000 new homes needed each year up to 2021. To get a sense of the scale of investment required, over €5bn will be injected into building social housing over the next six years. The challenge is for the industry to scale up again to the extent required and factors like finance, labour and taxation need to be addressed now to support an industry still emerging from a significant crash.
Claire Solon is president of the Society of Chartered Surveyors Ireland, with 5,000 members in the property sector, and head of property at Friends First, where she manages €500m of property assets.
A great initiative which requires a collaborative approach and energy by many stakeholders to ensure the objectives are translated into homes and apartments in a timely manner. The success of the plan will be determined not in its aspirations but rather in the brave execution and speed at which change needs to happen to guarantee the success of Rebuilding Ireland. The Minister needs a lot of support from a lot of people.
Michael Grehan s the managing director of the Sherry FitzGerald estate agency group, which has a 66-branch-strong network including franchises. He has more than 27 years' experience in the sector.
It is definitely an action-driven plan and decidedly a step in the right direction. Whether it is realistic in terms of the numbers of new builds - 25,000 per annum by 2020 and to complete 1,500 units in the rapid-housing programme - is optimistic at best and unrealistic at worst. The speed at which existing stock is ready for new occupancy is reported to be incredibly slow.
Marian McQuillan is the CEO of Quillsen, formerly Gunne Estate Agents, and was formerly a director of Purcell McQuillan Tax Partners.
There are some positive developments emerging but elements of the plan display a lack of understanding of market dynamics. The Minister and his public- sector advisors need to consult with agents on an ongoing basis to understand what's really happening in the various localities. I believe the plan can and will work if it is reviewed regularly and tweaked where necessary.
Pat Davitt is the CEO of the Institute of Professional Auctioneers and Valuers (IPAV). Pat has more than 34 years' experience in the sector, spending much of it running a family-based auctioneering firm in Mullingar.