New homes supply has ‘gone into reverse’, claim property lobbyists
Head of developers’ group says there is ‘no prospect at all’ of Dublin City Council meeting its housing target
Property sector lobbyists have hit out at what they describe as the government’s “unambitious” housing targets, and claimed that “positive headlines” of increased commencements hide the reality that the supply of new homes has “stagnated and gone into reverse”.
Pat Farrell, the chief executive of Irish Institutional Property (IIP), said there is “no prospect at all” that Dublin City Council will meet its target of 27,500 homes in its area within six years.
The warnings were contained in a letter by Farrell, formerly a general secretary of Fianna Fáil, to the Department of Housing in December that has been released to the Business Post under Freedom of Information rules.