Edition 103 of BRegs Weekly is out now.
Housing issues again held a tight grip on the headlines.
The Independent examined Census 2016 which revealed a sharp slowdown in housing stock growth. Total housing stock grew by just 8,800 (0.4pc) between 2011 and 2016. A demand backlog over recent years means that it is sitting at about 40,000 units, experts estimate. A massive gap between the confirmed CSO figure of 8,800 net supply and this demand appears to be overheating the market. Irish house price inflation is back in double-digit territory at 10.7% for the first time since mid-2015, according to the Residential Property Price Index. But depending on who you talk to in the industry, and what statistics are cited, different outlooks emerge.
Dermot O’leary, Goodbody analyst called the Department of Housings housing estimates “leprechaun economics” in the Irish Times. He highlighted the divergence between official new home completion figures for 2016 of 8,700 for estate homes & apartments and actual new home sales transactions of 4,400, which if correct suggested that over 4,000 completed new homes remained unsold throughout the country. Clearly, official figures do not stack up.
According to official report published in March over 30,000 ‘ghost estate’ vacant houses were brought back into stock since 2010. Fom the peak of 33,000 completed and vacant units to now there are 2,800 left. However, the Irish Times pointed out that, as ESB connections are used as proxies for new-home transactions, re-connected ghost estate units are double-counted by the Department of Housing as new-build completions. This adds the body of opinion suggesting Minister Coveney’s house-building figures are very wide of the mark.
Poor rental standards are highlighted again. Almost 57% of private homes inspected by Cork City Council in 2015 and 2016 failed to meet basic standards. The most common reasons for dwellings to fail the inspections were inadequate ventilation, structural conditions, issues with electricity and gas, and the absence of fire blankets. Currently, the local authority employs three full-time inspectors who are tasked with carrying out such inspections.
The BRegs Weekly e-zine gathers all recent social media discussions relating to Building Control Regulations into one weekly digest. It is published every Friday and gives a round-up of news highlights for the week. We recommend signing up for an automatic subscription to keep up with the discussion surrounding the current annual review of the BC(A)R, and more recent media articles and stories about building control and the impacts on the consumer and construction industry.
Click Here to read: BRegs Weekly 54- Edition 104