Sunday 30 April 2017

To combat the housing supply shortfall, our developers need 'Help to Build' measures

'New home building will not take place unless the barriers are lifted, which at the moment are preventing developers from entering the market.' Photo: PA
'New home building will not take place unless the barriers are lifted, which at the moment are preventing developers from entering the market.' Photo: PA

Eamonn Spratt

What a difference a year makes, with property agents around the country all predicting rises for 2017 that would indicate a return to a functioning market.

But while a national average increase of 6.1pc seems healthy and consistent, and in no way indicating a bubble, we could be facing a vastly different situation in 12 months' time if the current supply does not change.

The Irish Independent Real Estate Alliance survey shows optimism in the market, with the return of first-time buyers to viewings, thanks to the easing of the Central Bank deposit restriction and the Government's Help to Buy scheme. However, they will compete with people trading down for a limited supply of mostly second-hand stock, unless the Government instigates Help to Build measures for developers.

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