'Developers will only build homes for the rich'
Developers are only building homes to cater for the upper end of the market, a report for the Government has warned.
This is a major problem in cities, especially Dublin, where almost half of all buyers are paying in cash.
And the Dublin Taskforce also says city and county councils should be given ramped-up powers to acquire land under compulsory purchase orders to help kick-start construction of affordable homes.
The taskforce said that only "limited product" was being constructed, priced at €300,000 or below, and that large tracts of development land were not being brought to the market.
Meanwhile, local authorities countrywide have been told to identify land banks in their areas capable of delivering thousands of fast-track, affordable homes.
The Department of Housing has told councils in Cork, Dublin, Galway, Limerick and Waterford to report back on unused land which is suitable for Strategic Development Zones. Schemes can then be fast-tracked through planning to speed up delivery of homes.