The recent research from the Economic and Social Research Institute (ESRI) reveals an expected trend – the prevalence of large households in Ireland, the highest throughout the European Union. The country’s distinction in this matter has been the norm for a long time.
While one might attribute this trend to Ireland’s notorious housing shortage issues that have intensified in the last decade, the research indicates that it’s not the key reason. The primary causes underpinning this enduring trend pertain to intrinsic aspects that have been present for years. The young age profile of Ireland’s population alongside higher European birth rates contribute to the prevalence of larger families. Nevertheless, housing costs and availability do play a subsidiary role, as suggested by ESRI insights.
The government’s housing strategies do not appear to gain much assurance or support from the study’s results. This research report brings to light the plight of young adults who are confined to their family homes due to the dearth of apt rentable accommodation and affordable first-time buyer homes. The detrimental wider implications of this issue are well evidenced and recognised.
Ireland once occupied a mid-ranking spot in terms of domestic units accommodating adult offspring, with rates approximately between 6% and 8%. Nonetheless, the rate increased sharply from 2020 onwards, with the percentage participating in the trend equalling that in Italy and Spain, exceeding one family in 10, by 2021.
The probable hypothesis is that the proportion of young adults unable to leave their familial abodes has augmented further since then, notwithstanding potential ambiguity in the international comprehension and comparison of pertinent data. Current data from the Residential Tenancies Board indicate a near 9% yearly increase in newly rented property costs coupled with a substantial decrease in the range of new tenancies available.
ESRI underlines the core challenge isn’t just about amplifying the quantity of homes available, but ensuring they are suitably located and designed; including for individuals, couples, and older citizens wanting to downsize. As the demographics transform, there should be a corresponding change in housing policy to suitably serve the population’s diverse needs.