On the other side, a very different type of house is under construction. They come in blocks, rather than individual units, and are interspersed with apartments. I have no doubt they will sell very well, with Luas stops almost at the front door. And they are the future in a city and country which needs a huge expansion of its housing stock at less cost than in the past. The latest Central Bank estimate is that 23,000 residential units will be completed this year, rising to 27,000 in 2020. Very, very slowly, supply is catching up with demand. Beyond that, it must catch up with the backlog of unfulfilled demand. These issues were the subject of a conference last week organised by the Raise the Roof pressure group, which is associated with the trade union movement. The big story was the claim that half of all residential-zoned land in Dublin is controlled by the State, either through being owned by a local authority or Nama. Architect Mel Reynolds said this would be enough to provide 71,000 new homes. The use to which Nama land can be put is a tricky business, and I wish them well extracting assets from other… Read full this story
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