The housing minister recently expressed intentions to return vacant properties to the market and boost social housing through strategic planning and potential funding. However, critics note that past efforts, such as Simon Coveney's 2016 action plan, suggest a cycle of unfulfilled promises. The current minister, James Browne, aims to resolve supply issues by overhauling Rent Pressure Zones, though this may initially worsen rent costs. The dire housing supply situation is evident in rising house prices and a persistent demand for homes, leading to skepticism about the effectiveness of further governmental action.
Browne's overhaul of Rent Pressure Zones will arguably make the cost of rent worse, initially, in order to increase the supply in the longer run.
The impact of the lack of supply in the market is illustrated today in the Irish Independent/REA Average House Price Index, showing rising asking prices and desperate buyers.
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