The demand for housing in Dublin is outstripping supply.
Fifteen to twenty thousand housing units are required in the greater Dublin area this year, but only ten thousand housing units are expected to be completed.
According to a report from the Society of Chartered Surveyors the gap between supply and demand will ensure that the capital's property prices will remain at what is already considered
Unaffordably high levels.
The report says that the government the provision of affordable housing through the National Development Plan will not solve the issue, and that urban regeneration must be prioritised and higher density housing promoted. The Society of Chartered Surveyors believes that lack of enforcement of these policies is
Damaging the competitiveness of the greater Dublin area.
Although approximately thirty nine per cent of Ireland’s population live in the greater Dublin area, only thirty five per cent of new housing stock has been built here. President of the Society of Chartered Surveyors John Daly believes that,
We are going to continue with this imbalance for a little while.
In a separate statement today the Construction Industry Federation have called on the government to limit current expenditure, so that key infrastructural projects in the National Development Plan are safeguarded.
It is clear that demand will continue to outstrip supply in the housing market, particularly in Dublin. The Society of Chartered Surveyors has warned that,
The rush to build at any cost may damage the future of the city.
An RTÉ News report broadcast on 30 October 2002. The reporter is Robert Shortt.