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Property sector sceptical on housing targets – MHC

Two-thirds (67%) of property sector professionals surveyed by Mason Hayes & Curran LLP say Taoiseach Simon Harris's commitment to build 250,000 homes in the next five years is not achievable.

MetroLink is the most critical project to Ireland's future development said 43%, while 36% identified social and affordable housing projects as key.

And seven out of ten (69%) said planning hurdles are the biggest barrier to scaling infrastructure investments.

Upgrades

Six out of ten said that energy-efficiency upgrades are the most critical sustainability initiative for the future of real estate investments.

The survey, of 400 industry stakeholders, was conducted by the business law firm at its annual built environment conference.

The findings highlight that close to two-thirds of respondents believe planning regulations are the most significant factor impacting the supply of housing in Ireland.

This outweighs concerns about financial resources (13%), land availability (12%) and workforce availability (11%).

Real estate partner Jamie Fitzmaurice said there are some positive signs on housing supply.

“There is more capacity in the market in terms of workforce, which could help to reach those targets. Some of the previous issues have abated somewhat, including the post-COVID hangovers, rampant inflation and supply chain issues.”

State intervention

State intervention is of critical importance in the housing market, he added, be that through the Land Development Agency, the local authorities, the Approved Housing Bodies, or those lending to such organisations.

Six out of ten respondents (60%) said that energy efficiency upgrades are the most critical sustainability initiative for the future of real estate investments.

Three out of ten (29%) respondents believe an aging population will most influence Irish property markets in the next decade, while 27% pointed to migration and mobility.