Research published this week on the quantity of zoned and serviced lands available for housing reveals that there is a satisfactory amount to fit the demand for the next five years. Unfortunately, the bulk of this land is not located in the right regions. The financial services firm Goodbody reports that a mere third of this zoned and serviced land is situated in the eastern and midlands areas, including Dublin and its neighbouring counties, home to almost half of the population.
Without a significant 35 per cent increase of zoned land in these regions, the chances of any meaningful alleviation of the housing crisis are slim. The government’s strategic document, Housing for All, anticipates that targets set by local authorities along with revised planning guidelines, will guarantee enough zoned land.
Incorporating these issues, the National Planning Framework, which is currently under revision, outlines certain extensive objectives. The government, however, runs the risk of becoming complacent. Its strategy’s targets are now outdated due to demographic changes, and actions that ensure ambitious targets for residentially zoned land by local authorities and their fulfilment are much needed. More synchronization in service provision is also key. These matters are likely to be handled in the reworked National Planning Framework; however, this critical document is yet to be released.
With housing supply lagging behind, the government’s policy aims to boost demand, making increasingly costly housing more affordable through a collection of subsidies for first-time buyers, such as the Help to Buy scheme and the shared-equity First Home scheme. Signs suggest that the government plans to intensify this strategy front of the forthcoming election.
However, the truth persists that unless adequate focus is placed on supply-side initiatives like ensuring a fair supply of zoned and serviced land, the resolution of the housing crisis will remain elusive. A thorough, all-encompassing approach is essential to manage this situation.