Construction BUSINESS

Brokers Ireland Warns of Financial Impact of Inability to Buy Homes at Affordable Prices

 Breaking News
  • New Placemaking Fund Launched to Enhance Cork City Centre Street art, greening projects, parklets, creative seating, atmospheric lighting and new unique events are just some of the projects which could be supported under Cork City Council’s new City Centre Placemaking Fund. The aim of this initiative is to support projects which will enhance, improve, and enliven people’s experience of Cork city centre, increase footfall and [...]...
  • Murphy Surveys is First Dedicated Survey Company to Achieve BSI Kitemark For BIM Level 2 Murphy Surveys  has become the first dedicated survey company in the UK and Ireland to achieve the prestigious BSI Kitemark™ for BIM Level 2 (Design and Construction). The Kitemark is the highest level achievable for the delivery of infrastructure or building projects that meet the requirements of the UK Government’s BIM Level 2 condition of contract. The Kitemark is the [...]...
  • €3.6 Billion of Investment in Irish Property Transacted in 2018 €3.6 billion of Irish property traded during the year 2018 across nearly 200 deals. This level is significantly higher than 2017, when €2.2 billion traded. This is a 58% increase year-on-year. Total volumes were boosted by a significant increase in larger-sized transactions, with 21 deals greater than €50 million, of which 11 were greater than [...]...
  • 4site Appoints David Healy as Health, Safety, Environment and Quality Manager 4site, the providers of innovative engineering solutions for major infrastructural developments in telecommunications, has appointed David Healy as Health, Safety, Environment and Quality Manager. Headquartered in Limerick, with offices in Dublin and the UK, 4site’s highly skilled in-house technical teams design, survey, build and maintain world-class communications networks, adapting technology, tools and processes to deliver [...]...
  • Ardmac Awarded Commercial Fit Out of Hilti HQ in Dublin Ardmac, the leading International construction specialist, has been awarded the contract to commercially fit out the Dublin head office of Hilti, a leading software, products and services company which services the professional construction industry. The 1065m² refurbishment of Hilti’s Irish head office, based at Finglas in North Dublin, will be completed by Ardmac in a fully [...]...

Brokers Ireland Warns of Financial Impact of Inability to Buy Homes at Affordable Prices

Brokers Ireland Warns of Financial Impact of Inability to Buy Homes at Affordable Prices
May 17
12:35 2018

Responding to the latest CSO house price figures indicating continuing house price growth of 12.1% in the year to March in Dublin and 13.4% elsewhere, Brokers Ireland has warned that unless supply of properties ramps up more quickly in the near future a whole generation now in their late twenties and thirties, and even beyond, may never be able to recover the financial loss of not being able to acquire a home at an affordable price.

Rachel McGovern.

Rachel McGovern, Director of Financial Services at the organisation which represents almost 1,300 firms said supply is crucial to bring some level of stability back into the market. “Throughout the country it’s cheaper to buy a property, if you can get one, than rent. The hunt for the elusive property has become a constantly moving target that has become the norm since the recovery, which came following several barren years after the financial crash.

“That amounts to a decade with an inability to buy a home, the best method, internationally recognised, of creating personal wealth over time, provided it is bought at an affordable price,” she said.

“Not only are younger age groups a decade or so delayed in this aspiration, it is also impacting them by postponing other financial planning, such as that for pensions. This is bad on an individual and family basis but it will impact negatively on society in the years ahead – unless something drastic is done to ramp up supply,” she warned.

About Author

admin

admin

Related Articles


Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here



Advertisements