Friday 24 November 2017

Call for national rollout of development rebate scheme

The Government needs to impose the proposed local development charge rebate scheme nationally to ease the housing supply crisis and create conditions which will help both first and second-time buyers, according to a leading estate agency group.

Failure to recognise that supply problems are not just an issue in the capital or Cork will do little to alleviate the current impasse which has led to a nationwide accommodation shortage.

'Although the Taoiseach has confirmed that the Government will introduce a local development charge rebate scheme for large housing projects in Dublin and Cork, they are failing to recognise the fundamental supply issues that exist in urban areas nationwide,' said Rob McCormack, from REA McCormack Corish in Wexford.

'In concentrating on urban areas around the country, we have seen micro markets opening up, with specific towns in counties behaving completely differently, influenced by the availability of small numbers of starter homes.'

He said further evidence of the nationwide shortage is shown in the recently announced 80 per cent fall in available rental properties.

'The cause of this nationwide lack of suitable housing supply, especially in three-bedroomed semi detached homes, is that builders cannot yet sell at a profit,' said Mr McCormack, 'there is still a huge gap in the cost of building and bringing a house to the point of sale, and what it can achieve on the open market,' said Mr McCormack

Wexford People

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