Need to build consensus on State’s role in housing policy
The housing crisis is spiralling out of control. Despite the slight drop in January, residential prices increased countrywide by a staggering 15% over the last year, while in Dublin they rose by 20%. But the real pain in the housing crisis is being felt by private tenants, those on the social housing waiting lists, and homeowners in long-term arrears.
The inflated rents in Dublin City have now spread to the commuter belt and regional cities. Rents in Wicklow and Kildare, for example, rose 14%in the last year to reach almost €1,000 per month. Cork and Galway experienced rises of 7% last year. Rising demand in these areas is resulting from new household formation, a cut in supply, and the inability to access mortgages.
