Industry & Business

Major New Report on Housing Outlines Policy Actions to Boost Affordability and Supply

 Breaking News
  • Finch Capital to Step Up Investment Activity in Irish Fintech Market Finch Capital, a leading early stage venture capital firm with offices in Amsterdam, London and Singapore, has announced that it now has an active presence in the Irish market and is dedicating up to €20 million to Irish start-ups in the fintech sector, following a €10 million investment from Enterprise Ireland. In 2018, Finch Capital closed [...]...
  • ESB and Coillte in Discussions to Deliver Renewable Energy Projects ESB is engaged in bilateral discussions with Coillte which, if successful, would lead to the establishment of a new joint venture development company to deliver 1,000 MW of renewable energy by 2030. It is proposed that a new joint venture will build on a successful track record of the two companies working together at Raheenleagh [...]...
  • Grocery Market Fends Off January Blues The Irish grocery market followed up a record-breaking festive period by posting year-on-year sales growth of 3.4% during the 12 weeks to 27 January. Despite shoppers tightening the purse strings, the latest figures from Kantar Worldpanel show a strong start to 2019 as New Year’s resolutions shaped shopping baskets. Douglas Faughnan, consumer insight director at Kantar [...]...
  • McAleer & Rushe Commences Construction on London Development Northern Ireland-based developer and contractor McAleer & Rushe has announced that construction is to commence on a new 620 room hotel and hybrid aparthotel development in Paddington, London with a contract value worth c.£82 million. Led by developer Concierge 3, a consortium of BSW Land & Property, Staycity and The Pickstock Group, the scheme is the final stage of the [...]...
  • Launch of 182,500 sq ft Seamark Building Marks Completion of Dublin 4 Redevelopment Project Chartered Land has announced that the major €45 million transformation of the eight storey 182,500 sq ft Seamark Building at the Elmpark Green campus in Dublin 4 is now complete. The completion of the Seamark Building, prominently located at the front of the campus with panoramic views over Dublin Bay, brings an end to the [...]...

Major New Report on Housing Outlines Policy Actions to Boost Affordability and Supply

Major New Report on Housing Outlines Policy Actions to Boost Affordability and Supply
June 26
14:31 2018

Ibec, the group that represents Irish business, has launched a new national campaign – Better Lives, Better Business championing new policies across four key pillars – housing, infrastructure, planning and sustainability. Better Lives, Better Business is a campaign that aims to make Ireland a better place to live and to work so that Irish businesses can more effectively attract and retain talent.

The new campaign is a response to the pressures now evidently affecting all businesses, regardless of sector, from inadequate housing provision, insufficient public infrastructure, not fit for purpose planning/legal processes and long-term environmental sustainability challenges. The emergence of these problems across the economy are diminishing Ireland’s ability to attract and retain the best talent, and are also undermining our competitive base.

Commenting, Danny McCoy, CEO of Ibec, said: “Ireland’s ability to attract and retain talent as part of our inward investment strategy is being eroded by a range of problems that are damaging the quality of life of our people including housing shortages, access to essential services and traffic congestion. These problems are feeding into the workplace in the form of higher wage demands, rising commercial rents and pressure on maintaining productivity. Ireland needs to fix these problems or risk developingsystemic economic uncompetitiveness and losing talented people.

“Ibec’s Better Lives, Better Business campaign adopts a holistic approach to solving these problems across the four pillars – housing, infrastructure, planning and sustainability. We want to make Ireland a better place to live and work so that Irish business attracts and retains talent.”

‘Better Housing: Actions to increase affordable supply’.

Ibec has also launched a major new report on housing – ‘Better Housing: Actions to increase affordable supply’. The first pillar of this campaign, housing sees the publication of a joint report by Ibec and Property Industry Ireland (PPI) entitled, ‘Better Housing: improving affordability and supply’. The report outlines detailed recommendations that the business community believes addresses the root causes of the housing crisis. For copies of the report, please go to www.ibec.ie/betterlives.

Tom Phillips of PII, said: “Resolving the issues facing Ireland’s housing market continues to be one of the main priorities for our economy and society. Our recommendations are aimed at unlocking the barriers to supply as well as ensuring a stable and smoothly functioning property market.”

Report Findings

  • A dysfunctional housing market is damaging the quality of life of many people and undermining Ireland’s economic prospects.
  • Future housing demand to average 36,000 new households a year. Pent-up demand means we could see a requirement for 50,000 households in the short-term.
  • Household size will fall over coming decades creating a need for greater numbers of smaller housing units as part of the overall accommodation mix.
  • The high cost of development land is the most important factor driving the unaffordability of new housing.
  • Over 80,000 additional workers are needed in the construction sector as the economy faces huge skills shortages.
  • Ireland has some of the lowest density cities in the world.

Policy Actions

  • Introduce government interventions to drive down the cost of development land.
  • Introduce a new site value tax to replace commercial rates and vacant sites levy by overhauling property related incentives and taxes.
  • Boost supply and provide greater value for money by building more social housing and reducing government spend on housing assistances.
  • Ease height and density restrictions by reforming Ireland’s planning system to speed up development.
  • Create a sustainable long-term rental market, including an increased focus on developing the new build to rent sector.
  • Convene the Expert Group on Future Skills Needs to review and prioritise an upgrade to the construction sector’s skills base and capabilities.
  • Improve the implementation of housing policy and use the existing Labour Employer Economic Forum as a coordination forum.

About Author

admin

admin

Related Articles

New Subscriber

Subscribe Here



Advertisements




















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4