Noonan says up to 30,000 new houses will be needed annually

WIZE · 01-07-2013 04:26PM #1

Minister for Finance Michael Noonan has predicted that up to 30,000 new houses will be needed from next year onwards in particular in Dublin where young couples with children are looking to leave apartments.
Speaking in Limerick today Minister Noonan said house prices are starting to rise again particularly in South Dublin which he said is giving a “strong lead”.
” Dublin as in many other areas is giving the lead and south Dublin is giving us a strong lead according to one survey prices are up 12%... These things can change very rapidly,” he said.
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“There are a lot of young couples with children in apartments now and they are looking at houses. There is probably a shortage of houses in certain family home areas in Dublin. We’d need about 25,000 to 30,000 new houses each year as we plan forward.
“Last year there was less than six built so you can see there is a mismatch now between supply and demand and we would be conscious and we hope the market will pick it up in the first instance,” he added.
Mr Noonan was speaking in Limerick and was responding to two surveys published this morning showing asking prices for houses have risen in Dublin over the past year with south Co Dublin registering a spike. Asking prices continued to decline nationally, though at a slower rate than last year, according to reports by property websites Myhome.ie and Daft.ie.
The increase in asking prices in Dublin is more than 5 per cent – the biggest jump in house-price growth in six years, according to the Daft report. South Co Dublin prices are up 12.2 per cent, according to Daft.ie, and 3.9 per cent, according to Myhome.ie.
This is the strongest annual growth recorded nationally since early 2007, says Daft.ie. Myhome.ie recorded a 1 per cent growth in Dublin in the second quarter of this year compared with last year, with average asking prices at €238,000

http://www.irishtimes.com/news/noonan-says-up-to-30-000-new-houses-will-be-needed-annually-1.1449225

So are the Government and the likes of Daft and Myhome trying to create another bubble or will they use this as an excuse to kick people who are in arrears on their morgage out of their houses to make space?

Either way the banks will not be able to afford to give new Morgages to theses people and also people will be selling their appartments at a loss so wont move out.

Dravokivich · 01-07-2013 04:28PM

Where are young couples getting the money for it? It's an insane amount to mortgage a house in Dublin, particularly south side...

Nemeses · 01-07-2013 04:29PM

Do we not have enough empty houses and empty estates already in this country?

errlloyd · 01-07-2013 04:33PM

Off the top of my head 55k do the leaving cert each year, so I hope to **** they didn't just take the amount doing the lc, subtract the amount who die and come out at 30k

Uriel. · 01-07-2013 04:34PM

Nemeses wrote: »

Do we not have enough empty houses and empty estates already in this country?

Yep in some places.

The difficulty is, no one wants to live in those places and/or there's no jobs there. The Government should spend more time worrying about facilitating job creation.

Can't see an en mass rise in house prices anytime soon. Nor can I see any major growth in the construction industry. Another €2billion minimum coming out of the economy again for next year, officially "back" in recession now.

Dravokivich · 01-07-2013 04:35PM

Uriel. wrote: »

The difficulty is, no one wants to live in those places and/or there's no jobs there. The Government should spend more time worrying about facilitating job creation.

I recall reading that a lot of'em ended up getting vandalised as well.

Gatling · 01-07-2013 04:36PM

30,000 a year to cover the amount of people for rent allowance accommodation

Nemeses · 01-07-2013 04:39PM

Uriel. wrote: »

Yep in some places.

The difficulty is, no one wants to live in those places and/or there's no jobs there. The Government should spend more time worrying about facilitating job creation.

Can't see an en mass rise in house prices anytime soon. Nor can I see any major growth in the construction industry. Another €2billion minimum coming out of the economy again for next year, officially "back" in recession now.

I can't speak for the area of Dublin..

However, from my own perspective..

Limerick
Plenty of empty estates and wasted estates there - I've worked in Limerick, there are jobs in Limerick.

Cork
Spotted a few empty places around here - In fact there are 3 abandoned houses alone on my street - Fix them up and put them out there.
I currently live in Cork, and by god there are jobs around here as well

Everywhere else. I can't comment.

I can only be in one place at one time fellas!

The Backwards Man · 01-07-2013 04:40PM

Nemeses wrote: »

Do we not have enough empty houses and empty estates already in this country?

Plenty of them here. I'm planning on building a rocket train to cart commuters from here to the centre of Dublin in less than an hour and a half., charge say €1000 a week for a weekly ticket. Who said we're short of houses?:)

01-07-2013 04:41PM

There is probably a shortage of houses in certain family home areas in Dublin.

Do people bother to read anything any more? What he says there is fairly accurate, we have a stupid set-up in Dublin, over the course of the "boom" apartments were built near the centre, estates an hour away. This has led to the situation he describes. I don't see anything controversial in what he says.

Nemeses · 01-07-2013 04:42PM

The Backwards Man wrote: »

Plenty of them here. I'm planning on building a rocket train to cart commuters from here to the centre of Dublin in less than an hour and a half., charge say €1000 a week for a weekly ticket. Who said we're short of houses?:)

Best of luck with that..

Though I'm not to sure if transportation is your strongest card.

I mean, Horse and cart mounted with rockets just won't cut it TBM.

Boombastic · 01-07-2013 04:45PM

Developers must be putting the pressure on and passing the envelopes again

Yes a shortage of houses, my goodness. Let's get building

Sleepy · 01-07-2013 04:51PM

I'd be one of those who'd be interested in buying a house in a decent family area of North Dublin in the next few years. I've no interest in commuting to work from Portlaoise, buying an apartment, living in a rough area or buying one of the cowboy builds that were thrown up around Clarehall at the end of the boom so a new build in the right area might well interest me (at the right price obviously).

I think the biggest problem we face, however, is that the majority of the land available to build on that falls within the bounds of the M50 tends to be around areas that I wouldn't want to raise a family in. There's not much in the way of unused land in Clontarf, Raheny, Malahide etc. and I'm sure the same is true of desirable areas on the southside and that's not likely to change any time soon. From what I've seen of the property market, it's these very areas where house prices are rising again, presumably being purchased by those who managed not to get burnt in the crash and anecdotally frequently by people who grew up in these areas that can finally afford to purchase in them now that prices are more reasonable.

the groutch · 01-07-2013 04:51PM

problem is that there is no more land to build houses in the areas people want to live.

ScumLord · 01-07-2013 04:56PM

Dublin doesn't need more houses, it needs better apartments.

Stone Deaf 4evr · 01-07-2013 05:03PM

errlloyd wrote: »

Off the top of my head 55k do the leaving cert each year, so I hope to **** they didn't just take the amount doing the lc, subtract the amount who die and come out at 30k

Where did you go to school? most of my year managed to make it out alive :P

OneArt · 01-07-2013 05:03PM

There are plenty of lovely empty housing estates near large towns as well.

Is this Noonan character actually just a brick and not a real person?

tritium · 01-07-2013 05:31PM

errlloyd wrote: »

Off the top of my head 55k do the leaving cert each year, so I hope to **** they didn't just take the amount doing the lc, subtract the amount who die and come out at 30k

No you silly billy

30 k is a bit over half of 55k because lots of couples buy houses

The difference is those who can't get a girlfriend/ boyfriend but are doing well

Silly billy....

Balmed Out · 01-07-2013 05:48PM

tritium wrote: »

No you silly billy

30 k is a bit over half of 55k because lots of couples buy houses

The difference is those who can't get a girlfriend/ boyfriend but are doing well

Silly billy....

though he was correct that all those who do the leaving cert buy houses in Dublin. Its definitely where Noonan got the figure.

tritium · 01-07-2013 05:54PM

Balmed Out wrote: »

though he was correct that all those who do the leaving cert buy houses in Dublin. Its definitely where Noonan got the figure.

Ah another silly billy

Read the report in the op again - the 30k isnt specific to dublin but particular emphasis is on the need in some areas of Dublin

Silly Billy's, sigh.....

Celly Smunt · 01-07-2013 06:03PM

So what he is saying is we need to turn expand Dublin into Kildare,Wicklow and Meath.I can't think of any area in Dublin that could supplement 5000 new houses never mind 30000.

Wompa1 · 01-07-2013 06:06PM

He's talking out of his arse. He is trying to stoke up some business into construction to try and get another faux economic boom going. Get that carousel turning again so they exact same thing can happen, idiots spend more than they have and wind up broke.

suicide_circus · 01-07-2013 06:10PM

the groutch wrote: »

problem is that there is no more land to build houses in the areas people want to live.

there's no more room for the way we are used to building, think it might be time to bite the bullet, catch up with the 20th century and start building UPWARDS

Celly Smunt · 01-07-2013 06:12PM

suicide_circus wrote: »

there's no more room for the way we are used to building, think it might be time to bite the bullet, catch up with the 20th century and start building UPWARDS

They can't do that,that would only make sense.

washman3 · 01-07-2013 06:41PM

No lessons learned from the farce that was the 'Celtic Tiger'
Here we have the Minister For Finance trying to stoke up another property bubble. incredible.

If it was just some clown like Jim Power we could just laugh..

Nemeses · 01-07-2013 06:46PM

I'm the minister of Financing me.. Problem sir?

mike65 · 01-07-2013 07:07PM

Send everyone to Longford.

washman3 · 01-07-2013 07:56PM

mike65 wrote: »

Send everyone to Longford.

Or send some jobs to Longford..

Outkast_IRE · 01-07-2013 07:59PM

ScumLord wrote: »

Dublin doesn't need more houses, it needs better apartments.

Quite right, some decent sized apartments in the right area, built to a high spec would sell no problem.

mike65 · 01-07-2013 08:00PM

washman3 wrote: »

Or send some jobs to Longford..

Is the correct answer! Plus the other 22 counties that hardly get a look in.

L.Jenkins · 01-07-2013 08:01PM

So we could see another building boom!

Noonan says up to 30,000 new houses will be needed annually

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