Analysis: Glenveagh pivots to take slice of state’s €40bn intervention in housing

Homebuilder is set for huge growth in its new partnerships division, which includes housing developments delivered on behalf of local councils and the LDA

Glenveagh is signing more deals with local authorities and the Land Development Agencey to build new homes

A fundamental change is taking place in Ireland’s housing market.

Faced with higher interest rates and growth limits on rent, private investment in new housing is drying up. Desperate to plug the supply gap and build more homes, the state has plunged headlong into the housing market over recent years, committing €40 billion to be spent over the next decade.

The evidence of that shift in the funding landscape can be clearly seen in the results posted on Wednesday by Glenveagh, one of Ireland’s largest homebuilders.