Small terraced houses would be more affordable for one- and two-person households, but builders prefer to construct apartments or semi-detached homes because of higher profit margins
Building small terraced homes could reduce construction costs, boost supply and lower prices for first-time buyers
Ideally, growth in households should be 85-90 per cent of growth in the housing stock, with the difference between them allowing for various forms of vacancy, and second homes. The statistics show that this is rarely the case in Ireland.Got a mortgage? There is up to €2,500 in tax relief waiting for you
Another turning point is likely to become evident in some future census. In so far as the suppressed household formation highlighted by the Housing Commission report becomes actual, this will lead to a longer than normal interval between turning points, so the next one is more likely to occur in the 2030s than in 2027. If a target-based approach seems to be working when it occurs, we are likely to ignore it. Past experience suggests this may be disastrous.
A focus on overall numbers has led to a blind spot, in relation to small low-cost units for first-time buyers. The house types being provided by the private sector are medium- to high-cost ones – apartments, semis, large detached or terrace houses – but not many small terrace houses. This is partly because density policies favour apartments, which are much more expensive than terrace houses with the same floorspace.
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