Many homeowners renovating rather than trading up as house price rise continues

Many homeowners renovating rather than trading up as house price rise continues

There has been a rise in home renovations, as people are forced to refurbish instead of moving.

A recent Construction Industry Federation report shows homeowners in Dublin are spending the most - an average of €18,721, followed by Donegal and Clare.

The housing crisis is among the issues to be discussed at the National Construction Summit today.

Economist Colm McCarthy says the situation is particularly bad in Dublin.

"It's still the case, particularly in Dublin, that supply is completely inadequate, prices are still going up, and housing is just not affordable in the capital," he said.

"[There are a] few other urban areas in the country with similar problems, but the problem of housing affordability, or non-affordability, is really a Dublin problem."

- Digital desk

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