New Homes Update
New Taoiseach Simon Harris believes his prediction that 250,000 new homes between 2025 and 2030 to be in revised Government targets in autumn. Mr. Harris expects the 250,000 homes to be the “ballpark figure”. Minister for Housing Darragh O’Brien added that more than 12,000 new homes were built in Q1 of this year, the highest in a decade up 63% versus the same period last year.
Turner & Townsend Survey Findings
A survey conducted by Turner & Townsend indicates that the construction sector in Ireland is only operating at 80%. If the sector was to operate at full capacity total output of 40,000 homes per annum would be possible. Construction activity is still at a healthy level which has been boosted by state interventions in the private market.
Horgan’s Quay Dockland Apartments
Works are underway for the development of 300 apartments at Cork City’s docklands. The works are expected to last for 2 years and will be delivered by Clarendon Properties/BAM. When complete the development will consist of an 11 storey single block building. The decision to go ahead with apartments at this time of high inflation was made possible through the State-sponsored Land Development Agency.
