Though there is no shortage of when it comes to quality home builder in Dublin, the problem lies in the house prices which has failed to recover and is said to be taking a breather. The prices are quite low especially in non-urban places. The data is revealed by the top Irish developer, Abbey.
According to Charles Gallagher, the executive chairman of Abbey, despite the fact that there is a small shortage when it comes to the housing supply, the case is not obvious since the price of the properties continue to be in the low.
Gallagher pointed out that their company does not reach Galway and Cork but the situation only applies in Dublin where the condition is very obvious.
In case of houses that are outside the commuter belt, the prices are still at its lowest levels. Though Dublin prices have greatly recovered in the past few years, it seems to have paused especially for this particular year.
There are many reports of residents complaining regarding the world crisis and it has affected the housing market which proves that may people are finding it hard to get houses that are within their budgets.
Though Gallagher considered this as a normal condition and something that the Government should be paying attention too, the properties that are not included in the Dublin area are now experiencing very depressed prices. Though there are vacant properties, the measure of shortage is very acute and is only worse in some urban areas. He also expressed the need for the building rates to go higher.
Gallagher believes that in order to help in the economy’s growth, the country must increase the building rates and should be worked on by both parties involved. Another important issue that should be given attention is the cost of building which should be lowered in order to offer people a more affordable housing option. This is more important now that there is a limit set to the mortgage and the amount the certain people could borrow. Financing for the mortgage should also be made available in order to help as the bank recovers very slowly.