A recent study in to the Housing Market has shown that the demand for new houses in the Dublin area is dramatically on the rise. There will need to be an estimate of over 12,500 homes built each year from now until 2021 to meet the demands of the community. Dublin is the most affected area, with over 60% of the 90,000 homes required in the Dublin region. A dramatic increase in houses is also needed in Galway, Westmeath and Cork, whereas, Leitrim, Roscommon and Tipperary all have more houses than they need built in the previous year. The fact that the shortage is not apparant in all areas, means that whilst the demand is high in some areas such as Dublin, in more rural areas there won’t be much work available for local builders.
If these demands are not met then this will result in a severe shortage throughout the area. Recently, the Government has been considering a commitment to bulding 25,000 homes annually over the next six years in order to satisfy the needs of the Irish community. The new Tanaiste Joan Burton said: “We will set in train a construction programme to triple the number of houses built to 25,000 a year by 2020.”
The Society of Chartered Surveyors has claimed that an increase in more “European style” homes would significantly reduce the need for so many units to be built. They state that if future built apartments were more family-friendly, then it would reduce the need for larger 3 or 4 bedroom homes to be built around the country. This society are also hoping to reduce the VAT on newly built homes from 13.5% to just 5% in order to help people afford to build new homes and to also introduce a “builders finance fund”.
(Source – Irish Independent, Image – www.adhesives.org)