Govt expected to put pressure on property developers

Govt expected to put pressure on property developers

The Government is expected to increase pressure on property developers with planning permission to "use it or lose it".

A new scheme would see local authorities have the power to cut the time allowed after permission is granted, if they feel builders are holding out for higher prices.

According to the Irish Independent, task forces will also be set up in Galway, Limerick, Waterford and Cork to identify issues around meeting demand for housing.

It comes as new figures are released showing the rate of new houses being built fell sharply towards the end of last year, after a strong start in 2014.

The National Construction Index shows an annual jump of 30% in the number of projects getting underway, but growth fell sharply in the fourth quarter.


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