Ronan Lyons is Professor in Economics at Trinity College Dublin, where his primary research areas are housing markets, urban economics, and economic history.
Net migration is volatile in Ireland and may well rise and fall over the coming years. But what seems far less likely to change is longer-run structural changes in society, all of which point to smaller households. This needs to be central in the housing discussion, not migration.
Dublin and its commuter counties have the lowest inflation in the housing market. But, given how tight second-hand supply is, and given how slowly fixed rate mortgages will unwind, upward pressure on prices will continue.
The Housing Commission disagreed over how to reform Ireland’s stringent system of rent controls. I was on the commission. These are the systems that we examined, and why different people took different stands.
The commission has outlined a need to radically redesign housing policy and give a clear pathway for building new homes. If not, we will be talking about a growing housing deficit for years to come.
Without any change in conditions, rents this year are likely to be up and not down. Why? Because the rental sector still awaits the kind of policy changes that will generate tens of thousands of new rental homes.
The shift from Munster to Leinster has not been confined to just the rugby pitch. It is something that can be seen in the economic structure of the country, too.
Simon Harris has promised that his Government will build 250,000 new homes over the next five years. However, many, many more are needed and the taoiseach must make his strategy and tactics very clear.
Housing demand has shifted over the past decade, and yet a large premium still exists for Dublin homes. Remote working may have changed the equilibrium but it won’t make our city housing deficit disappear.
Incomes have been rising decade on decade, boosting demand for Ireland’s tourist offerings. Irish policymakers need to have their response planned, writes Ronan Lyons.
Despite progress in construction output over recent years, there is still a real need for new rental homes across the country, not just in the big population centres but also in smaller provincial towns. Can Ireland deliver them?
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