>In its annual review of the housing market, the company noted that more than 30,700 new residential units were commenced in 2021, representing a 41.7 per cent increase on 2020 and a 17 per cent rise on 2019. It was also the strongest level of commencement activity seen in the State since 2007.
>Dublin and the mid-east regions accounted for 61 per cent or 18,700 of commencements.
And this is probably bad news for renters:
>The company also highlighted what it said was the ongoing “ exodus of landlords from the rental market”, with just 13 per cent of purchases made by investors while 32 per cent of all sales were investors selling their properties, “signalling a huge disparity between those entering and exiting the market”.
Go on the lads – very positive article except for the cost of everything!
Imagine FF sort out housing before the next election, be gas
Pushing apprenticeships will be important to get a constant supply of workers coming through for the growing population
30,700 new builds would house 83k people (based on average Irish household occupancy of 2.7 people per dwelling).
Our population isn’t currently growing by anything near 83k people per year.
We could be getting over the hump sooner than we think.
Edit: I can only assume downvotes are people that don’t want the housing crisis to end?
The cost of these new builds is the issue though. They are being built at a time of massive cost inflation across the board so even though there will be better supply, the cost will only come down a small amount as they won’t be sold at a loss. Sure competition could mean that some developers will take a marginally smaller profit per unit but that price is still quite expensive for most new developments.
Even building 30,700 units, take away the ones the govt will buy (increasing share of market in recent years) and the investment funds to then realise only about 1/3rd of that will actually be available to buy for the average couple
So, 11 houses per month ….
“housing starts” I’ve never heard that term before
I think it’s great to see new houses being built the country really needs them, but I hope to Christ they press the brakes at the right time this time round and don’t over build like before. There’s a good chance once covid starts to go away a lot of people will emmigrate from Ireland, I’m talking hundreds of thousands of people which will free up the rental and new buyers market. There needs to be a very close eye kept on the population and amount of houses being built for a few years or history will repeat itself!
We would be better to concentrate on building apartments and lots of them.
It is great news and hopefully will go a way to fixing the housing issue but we need to make sure we don;t get into the same trap as the Tiger
my death pledge is 189k. exact same house being built 300m away selling for 300k 3 years later. it’s laughable that this house could cost 300k
10 comments
So this is probably good news for buyers:
>In its annual review of the housing market, the company noted that more than 30,700 new residential units were commenced in 2021, representing a 41.7 per cent increase on 2020 and a 17 per cent rise on 2019. It was also the strongest level of commencement activity seen in the State since 2007.
>Dublin and the mid-east regions accounted for 61 per cent or 18,700 of commencements.
And this is probably bad news for renters:
>The company also highlighted what it said was the ongoing “ exodus of landlords from the rental market”, with just 13 per cent of purchases made by investors while 32 per cent of all sales were investors selling their properties, “signalling a huge disparity between those entering and exiting the market”.
Go on the lads – very positive article except for the cost of everything!
Imagine FF sort out housing before the next election, be gas
Pushing apprenticeships will be important to get a constant supply of workers coming through for the growing population
30,700 new builds would house 83k people (based on average Irish household occupancy of 2.7 people per dwelling).
Our population isn’t currently growing by anything near 83k people per year.
We could be getting over the hump sooner than we think.
Edit: I can only assume downvotes are people that don’t want the housing crisis to end?
The cost of these new builds is the issue though. They are being built at a time of massive cost inflation across the board so even though there will be better supply, the cost will only come down a small amount as they won’t be sold at a loss. Sure competition could mean that some developers will take a marginally smaller profit per unit but that price is still quite expensive for most new developments.
Even building 30,700 units, take away the ones the govt will buy (increasing share of market in recent years) and the investment funds to then realise only about 1/3rd of that will actually be available to buy for the average couple
So, 11 houses per month ….
“housing starts” I’ve never heard that term before
I think it’s great to see new houses being built the country really needs them, but I hope to Christ they press the brakes at the right time this time round and don’t over build like before. There’s a good chance once covid starts to go away a lot of people will emmigrate from Ireland, I’m talking hundreds of thousands of people which will free up the rental and new buyers market. There needs to be a very close eye kept on the population and amount of houses being built for a few years or history will repeat itself!
We would be better to concentrate on building apartments and lots of them.
It is great news and hopefully will go a way to fixing the housing issue but we need to make sure we don;t get into the same trap as the Tiger
my death pledge is 189k. exact same house being built 300m away selling for 300k 3 years later. it’s laughable that this house could cost 300k