National Statement of Housing Supply & Demand and Outlook of 2017 – 2018.
Key points
New Builds
Sufficient development land – Construction Growth – Progress in unfinished estate completions
Sales
Residential sales decline in 2016 – House price increases slower
Rental Sector
Rents rise across country – New rent highs in Dublin. Affordability problems in particular East
The Housing Agency Report
The Housing Agency launched the second edition of the National Statement of Housing Supply & Demand. This brings together up to date information on housing trends for 2015 and 2016 while looks ahead to future demand.
This comes at a time when our economy is recovering and employment levels are rising. A sustainable housing system will be important to maintaining Ireland’s competitiveness.
Under the Rebuilding Ireland Action Plan for Housing and Homelessness a number of initiatives are now underway to help resolve the housing crisis. The Statement reports that while housing completions continue to rise, the rate of increase is still below supply requirements, particularly in urban areas, where affordability is also a problem.
New Builds
The latest construction statistics, included in this report, indicate sufficient development land, a growth in construction activity and further progress in completion of unfinished estates.
Sales
Residential sales declined in 2016 for the first time in four years as house prices continue to increase, albeit at a slower pace than heretofore.
Rental Sector
Rents continue to rise throughout the country and reached new record levels in Dublin in 2016. International and domestic analysis indicates an affordability problem in particular parts of the country including Dublin, urban areas and the East of the country. Policy and legislative changes have been introduced in the past two years to improve planning and stabilise the rental sector,
Current and Future Housing Demand
A growing population and smaller household sizes are contributing to demand while the population shift toward Dublin. Census 2016 information the report shows population growth around our major cities as well as age profile changes.
Policy and Legislation
During 2015 and 2016 a substantial number of legislative changes and Government initiatives were introduced in response to housing issues in Ireland. The key measures were in the areas of housing legislation, taxation changes, changes to mortgage lending rules and changes made to housing delivery channels.
Click Here to access the National Statement of Housing Supply & Demand and Outlook of 2017 – 2018