Wednesday 18 January 2017

No wonder the nation is going through the roof over housing shortage

Published 09/03/2016 | 02:30

A view over Dublin’s low skyline. We need to see a ‘Rising’ in house building to meet demands
A view over Dublin’s low skyline. We need to see a ‘Rising’ in house building to meet demands
'House completions have collapsed from 93,419 in 2006 to around 8,000. Put bluntly, more people are paying more to fit into less space. By any standards, Ireland has a housing crisis.'

The other day a well-known publican in Dublin 2 who runs a number of thriving places told me the housing crisis is now so acute in the city that staff simply can't work for the wages he is offering. The same story pertains across all service sectors in town. A lack of housing is stifling growth and opportunity.

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The average Dublin renter paid €1,275 a month for a house, or €1,152 for an apartment, in the summer of 2014; they are now paying €1,387 for a house and €1,260 for an apartment. And prices are continuing to rise. Outside Dublin, things are more affordable but only because there are far too many houses built in the wrong places, where no one wants to live.

House rentals outside Dublin increased from €656 to €695 a month in the past year, and for apartments from €623 to €660.

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