Residential Construction Receives Boost
According to a recent Irish Independent interview with Minister for Housing & Planning, Paudie Coffey, local authorities across the country have been requested to process planning applications in the most time efficient manner possible. This is in hope that construction activity can commence on many of these developments as quickly as possible.
These comments coincided with the latest edition of the National Housing Construction Index (NHCI) which highlighted, that due to new building regulations introduced at the end of March 2014, residential construction commencements actually fell in subsequent months.
We all know that levels of supply are currently not meeting demand so it comes as a positive statement from the Minister that Government are to take a more direct approach to how local authorities deal with planning permissions.
“There will be a use it or lose it provision for all new planning permissions” according to the Minister. Other initiatives by Government include
- Reducing the duration of unused planning permissions
- A 10% requirement for social housing units in new residential developments
- A vacant site tax of 3% of the land value in areas with populations > 3000
- Reduction in levies for undeveloped sites with planning permission
If implemented these initiatives may prove an important step to developing a sustainable residential construction sector.
Full details on all multi-unit residential construction projects – planned, granted and scheduled for commencement are available via the Building Information Ireland website. A 10 day free trial is available.
Building Information Ireland research and publish details on all planned construction activity in all sectors across all 32 counties.