Only one in three approved homes have been started

With reference to Work has yet to start on 23,000 homes in capital which have permission by Paul Melia on June 26 2017 in Independent.

To keep up with the rising demand of the housing market around 30,000 to 35,000 houses need to be completed every year. With 7,975 houses completed and 5,261 under construction, that leaves around 64 percent or 23,700 of the approved homes yet to begin. In Dublin particularly, 5,643 out of the 7,277 or 77 percent approved have yet to start as well.

Speculations on why this could be is developers with not enough funding or they could be hoarding the land expecting the housing prices to further rise, claimed Society of Chartered Surveyors and State bad-bank Nama.

With 36,936 homes approved, it leaves two out of three home plans not being started. Since there is currently a housing shortage, talk of imposing a holding property tax has been circulating. With this shortage of houses there has been a significant increase in housing and rent, especially in Dublin.

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