A recent survey conducted by Mason Hayes & Curran revealed that majority of professionals in the property industry are sceptical about the government’s proposed housing plans. Taoiseach Simon Harris’s ambitious aspiration of building 250,000 homes in the upcoming five years has raised eyebrows amongst industry insiders who express concerns about the feasibility of this target.
This comprehensive study involving 400 key stakeholders gives due emphasis to the pressing issues surrounding Ireland’s property landscape, like housing shortage, future population trends and infrastructure needs.
The research findings reveal that the primary impediment to meeting housing demands, as stated by almost two-thirds of participants (64%), are restrictive planning regulations. This apprehension outpaced worries over funding (13%), land scarcity (12%), and lack of workforce (11%).
Jamie Fitzmaurice, a senior real estate figure at Mason Hayes & Curran, remarked that in spite of doubts surrounding governmental objectives, the housing supply sector is starting to show encouraging signs. He noted the increasing workforce capacity in the market which could potentially meet the housing targets. Even though several challenges like post-Covid disruptions, soaring inflation and supply chain problems have lessened, he warned that considerable obstacles still exist and need urgent attention. Emphasising the crucial role of state interference in housing market, he maintained that several projects’ success are highly contingent upon support from agencies such as the Land Development Agency, local authorities, Approved Housing Bodies, and their financial backers.
Moreover, the survey highlighted that property investments’ future relies heavily on energy efficiency improvements, a view shared by six out of ten respondents. Also, infrastructure appeared as a significant area of concern, as about 69 percent respondents perceive planning-related challenges to be the major obstacle impeding infrastructure enhancement in Ireland.
Furthermore, 43 percent of stakeholders identified the MetroLink as the most significant project for Ireland’s future progress, closely trailed by social and affordable housing projects (36 percent).
David Gunn, another significant figure at Mason Hayes & Curran handling construction-related matters, emphasised that investments in public transportation, healthcare and affordable housing would not only boost the economy but also significantly enhance the quality of life for the Irish inhabitants. He stressed that a well-defined plan of projects would aid the private sector in expanding and establishing a long-term business presence in Ireland.