{"id":1653,"date":"2021-08-13T10:17:20","date_gmt":"2021-08-13T09:17:20","guid":{"rendered":"https:\/\/www.socialdemocrats.ie\/cartel-on-development-land-must-be-broken-to-tackle-house-prices\/"},"modified":"2021-08-13T10:17:20","modified_gmt":"2021-08-13T09:17:20","slug":"cartel-on-development-land-must-be-broken-to-tackle-house-prices","status":"publish","type":"post","link":"https:\/\/www.socialdemocrats.ie\/ga\/cartel-on-development-land-must-be-broken-to-tackle-house-prices\/","title":{"rendered":"Cartel On Development Land Must Be Broken To Tackle House Prices"},"content":{"rendered":"<p><em><strong>Dublin is now the most expensive city in Europe in which to build<\/strong><\/em><\/p>\n<p>Breaking the cartel on development land is the key to tackling sky-rocketing house prices, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan.<\/p>\n<p>\u201cAccording to the CSO, house prices rose by 6.9pc in June \u2013 the fastest level of growth in two and a half years. Meanwhile, a report from property consultants Turner and Townsend has revealed that Dublin is now the most expensive city in Europe in which to build. Yet, when it comes to building materials and the cost of construction labour, Ireland is no more expensive than comparable European countries.<\/p>\n<p>\u201cThe key to addressing skyrocketing house prices is tackling the cost, and supply, of development land. A 2020 European Commission report on Housing Affordability in Ireland identified the concentration of development land, in the hands of a small number of large developers and investment funds, as a key factor in reducing competition and fuelling inflation.<\/p>\n<p>\u201cThis cartel of large developers and funds, which have squeezed out smaller builders, must be broken. We cannot allow a small number of developers to continue to monopolise the control of development land and drip feed the supply of much-needed housing into an overheating market.<\/p>\n<p>\u201cIt has been reported that Housing Minister Darragh O\u2019Brien will include a taxation measure, to capture a portion of rezoned land value increases, in his Housing For All strategy. This will not go far enough. The State needs to take an assertive role and use Compulsory Purchase Orders to ensure a consistent supply of land at affordable prices for housing, as originally proposed in the Kenny Report of 1973.<\/p>\n<p>\u201cThere must also be a renewed focus on increasing our pool of skilled construction workers and apprenticeships, especially in wet-trades, and increasing productivity, by accelerating the use of modern and sustainable building technologies.\u201d<\/p>\n<p>13 August, 2021<\/p>\n<p>Ends<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dublin is now the most expensive city in Europe in which to build Breaking the cartel on development land is the key to tackling sky-rocketing house prices, according to Social Democrats Housing Spokesperson Cian O\u2019Callaghan. \u201cAccording to the CSO, house prices rose by 6.9pc in June \u2013 the fastest level of growth in two and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[278,10,7],"tags":[],"class_list":["post-1653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cian-ocallaghan","category-housing-crisis","category-press-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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