On a more general point I’ve long believed that the Social Housing element required in any development is holding up building projects. It can’t be easy to sell houses to hard-working couples when you’re forced to build for people who have no intention of contributing anything for their entire lives.
This will especially affect bigger projects - Cherrywood for example. Given current political pressures there is every chance that it’ll become some kind of Social Housing experiment and many would not want to take a risk on buying there (see the disaster that is Adamstown.)
Hence the desperate scramble in half decent mature areas for anything with a roof on it…
I’ve mentioned it before here, but having sold property in private-social mix developments, I can assure you the theory does not work in practice.
The time I stepped into an elevator with a bunch of clients to view a 2-bed apartment for 500k+, only to be greeted with a drunk pyjama-wearer at 3pm will forever remain as one of my working ‘moments’.
Affordable housing is better.
But if developers are forced to increase the price of some property to subsidise others, then the extra price is ultimately paid for by mortgage borrowings, thereby multiplying the final cost over the term.
They take the cash to buy the most suitable type of unit in the highest demand area, based on the needs/trends of those at the top of their housing list, is my understanding from a friend who works in housing for a different council. A shame no-one from DCC commented to clarify that this is effectively a non-story, if that’s the case, in fact it’s a rare instance of forethought and efficiency triumphing over simple box ticking.
I know it’s been mentioned before that developers got used to ludicrous profit margins that simply don’t exist anymore. And now, what should be considered a healthy margin is sniffed at. How much truth is in that?
If he was focussed on Tay-drinkers I’d be worried But yeah property is beaucoup expensive, and as long as land isn’t free it will remain so.
UK now looking at reducing child benefit to cover max 3 children, hopefully Ireland will do the same. The whole welare state needs reform, less chance for the day-drinkers to flourish bbc.co.uk/news/uk-politics-31743031
I’ll need to start working more hours to pay more tax to pay for more free houses for the ever increasing pool of both natives and non-natives in dire need of housing in this country…absolute joke of a country