Builders forecast housing shortage for Galway!

the keen edge

In a surprising story in this weeks Connacht Tribune

The Construction Industry Federation claims there are roughly only 1000 houses vacant or under construction in Galway. And so forecast a chronic housing shortage in the near future(up to 2016) for Galway.

Whereas, last August The National Institute for Regional and Spatial Awareness (NIRSA) estimated oversupply of roughly 7000 homes in County Galway.


I'am amazed at how the counting of something as physically large as houses, can result in two vastly different numbers.

Obviously the CIF have their only agenda, but the massive difference in the claims of either body as to the amount of vacant housing stock, does pose the question of whether or not Ireland is as f*cked economically as we've been lead to believe.

The property bubble has always been touted as a major contributor to the collapse of the Irish banking system.

And I'am guessing that a huge over supply of property nationwide and the associated long time it takes to sell these properties, would be viewed negatively by international financial markets.


So with all the above in mind, do you think that there is a chance that Ireland's domestic economy is not in as bad shape as we are lead to believe.

Is it further proof of the unnecessary shafting the IMF bailout plan will mean for us all?.


P.S. I don't have a house to sell.

Lumen

I read a figure of 25,000 houses nationally, which was quoted as being "one year's supply".

Since we have net migration and therefore decreasing demand, that would require at least 25,000 houses to be fall down spontaneously in the next year.

Regardless of how many empty houses there might or might not be, we're still skint.

hal9000

as someone who lives in there, what galway needs is new roads lots of new roads!

dr.bollocko

Moved from after hours.

irisheddie85

Are 1 refering to galway city and the other county? Id say there is a huge oversupply of houses an hours drive from galway that no one will ever buy, and only a small oversupply in the actual city.

2 Houses near me in the city that have been an the market since just before the property crash sold recently. Yes the asking price had dropped severly since they originally went on sale but at least its something happening

ejmaztec

If they used Lego to build all of those ghost estates, they could have transferred a few to Galway, but they just don't think do they?

Caoimhín

What is amazing is that these parasites are allowed to get press releases reported uncritically in any form of media.

the keen edge

I clearly remember the figure of 200,000 plus vacant houses been quoted by various national bodies.

I was involved in the construction industry, and at the time hearing that there was such a massive number of empty houses lead me to believe that there would be no construction employment in the long term.

Those reports obliviously also placed a huge stress on not just people who worked in the industry, but also anybody who bought in to the property market.

The market was definitely way over heated and over valued. But if its true, putting out figures that over estimated the vacant houses stock by a factor of 10, clearly had a negative effect on how the international markets viewed Ireland.

super_furry

Builders claim they need to build more houses? Shocker!

If the CIF said the sky was blue, I wouldn't believe them. They talked up the market, priced it out of the reach of the normal person then for two whole years denied that prices were dropping. Even now they're full out it.

the keen edge

Obliviously the CIF have their own axe to grind.

But the difference in the figures: 1000 vs. 4000, come on both side must be falsifying data.

skelliser

The CIF!! lol!

Fianna Fail mouth piece if ever i saw them

Have a look here www.ghostestates.com spooky.

FlashD

Well I nearly fell off my chair when I saw the title to this thread.

Is the Construction Federation having a laugh is it?

Now enough with messin', there's better places to be spending the few quid left then MORE VACANT HOUSES.

dolphin city

when they say 'houses' do they mean Flats.