Friday 22 September 2017

Mark Keenan: City sleepwalks into crisis on family homes by failing to build

Mark Keenan

Mark Keenan

DUBLIN has sleepwalked itself into a housing crisis by building almost no family homes for a decade. The evidence comes this week courtesy of the latest figures from the DNG estate agency which show that house values in the capital are rising at more than 1pc per month. They're corroborated by Sherry FitzGerald, and equate to the same rises experienced during the property boom.

The reason is singular and glaring – a chronic shortage of family-sized homes.

In a "normal" market, property prices should rise by somewhere in the order of 3pc to 4pc per year, and not by 12pc-plus. And in complete contrast to Dublin, the market in rural areas, where plenty of family homes are available, remains flat.

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