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I fear a very different kind of property crash

While 80% of people over 40 own their own home just a third of adults under 40 do. This is disastrous for social solidarity and cohesion

Changing this system of policymaking requires a government to act in a way that may be uncomfortable for some. Governments have a horizon of no more than five years, and the housing issue requires long-term planning.

The Department of Public Expenditure and Reform was intended to tackle some of these problems. According to its website its remit is to “drive the delivery of better public services, living standards and infrastructure for the people of Ireland by enhancing governance, building capacity and delivering effectively”.

So how is the challenge of delivering homes for people in 2024 and beyond going to be met? The extent of the problem is visible in the move by companies, including Ryanair, to buy properties to house staff. Ryanair has, justifiably, defended its right to do so.

IPAV has long articulated its views on how to improve supply and sustainability, including changes to rent pressure zones, tax treatment of private landlords, encouragements for SME builders and developers and much more.

But let’s look to an organisation that played a major role in our recovery from the last financial crash: the International Monetary Fund. In a report in November, the IMF recommended the removal of rent caps saying: “Reducing the complexity and restrictiveness of rent legislations, notably replacing rent caps with more targeted housing support for poor households, would help increase rental housing supply.”

It recommended increasing urban density, improving land use and enhancing construction productivity, as well as providing greater certainty to developers by improving the transparency and certainty about approval processes, and accelerating them.

Given we’re entering a series of elections, including a general election to be held no later than March 2025, will we be facing more heat than light on housing?

We’re snowed under with reports and inundated with State- and State-supported bodies, often with overlapping responsibilities, not to mention a Housing Commission of which we’ve heard little. Perhaps the best we can hope for from any new programme for government agreed following the next general election is a taskforce established with specialist expertise, with a tight time frame to implement a series of urgent actions.>

Irish Times Article by Pat Davitt chief executive of IPAV

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