The CSO Quarter 1 2019 new dwellings completion report confirms a strong upward trend across all housing construction activity data sets.
“While it is important to continue our efforts to ensure that this trend is maintained and even further improved, it is encouraging to see today’s results,” says Housing Minister Eoghan Murphy.
“In order to properly address homelessness” he continues, “affordability and the challenges in housing, we need to fix supply. These numbers show that this is happening.
The help-to-buy scheme should be extended “sooner rather than later” to help first-time buyers being priced out, a mortgage expert has said.
Joey Sheahan of MyMortgages.ie was speaking as a report from EY and DKM showed nearly half of all counties in the Republic are now unaffordable for first time buyers on an average income.
There will be a “dramatic fall off” in first-time buyers entering the market next year if the Help-to-Buy scheme is not extended.
That was the stark warning from the head of credit at MyMortgages.ie, Joe Sheahan, who was responding to the latest Central Statistics Office (CSO) figures on house prices.
While house prices continue to ease with the annual rate of increase in May now the lowest in six years, prices increased by 2.8% nationally in the year to May, compared to a 3% increase in the year to April.
Pictured above from left to right:
Dermot Kelly, Kelly Dullea, Shane Healy & Maurice O’Connor, Healy O’Connor, Jonathan Lynam, Murphy Lynam, Joey Sheahan MyMortgages.ie Peter Kiely, Timothy J Hegarty & Co,
In front John O’Flynn of Summa Sportswear and Neal Horgan of JW O’Donovan
One-fifth of all property sales in the first quarter of 2019 were to large international investors and real estate investment trusts. A new report from the Banking and Payments Federation Ireland (BPFI) shows the extent to which investors are impacting on the private housing market in Ireland.
By Charlie Weston Read More