Warning on housing shortage
BUILDING began on only two extra houses in Dublin in the first six months of 2013, compared to the same period last year.
New figures released by the Construction Industry Federation (CIF) show that despite a surge in demand for housing in the capital, a total of just 436 housing units were started between January and June of this year in Dublin, while 434 had been started during the same timeframe in 2012.
There are also very few schemes in the pipeline, with most of those currently being offered for sale being 'restarted' schemes from the boom era which were put on ice following the crash.
Meanwhile, the latest quarterly report from Sherry FitzGerald (for Q3) shows that just 4,500 homes were for sale in Dublin during the third quarter out of 46,200 nationwide.
The agency has estimated that supply is down to less than a third of what is normal.
The agency estimates that Dublin prices are currently increasing at the rate of 1pc per month – or around €3,000 per month extra on the price of a home which costs €300,000 today.