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Saturday 28 January 2023 Dublin: 6°C
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# Housing Crisis
Government to review private rental market as housing targets set to be exceeded
The review of the rental market is expected to be completed before Budget 2024.

LAST UPDATE | Nov 2nd 2022, 1:29 PM

TAOISEACH MICHEÁL MARTIN says that housing targets for 2022 will be exceeded, as the Government is set to undertake a review of the private rental market next year.

Taoiseach Micheál Martin and Housing Minister Darragh O’Brien updated Cabinet on the Housing for All plan this morning, saying that targets for 2022 are set to be exceeded.

However, the Government has said that the plan will be updated due to changed circumstances, including the rising cost of construction and the war in Ukraine. 

Under the plan, there are to be over 24,600 new build homes constructed across Ireland by the end of the year.

As of the end of September, there have been 20,807 new homes completed. This is slightly higher than the number of homes completed in 2021, where the Central Statistics Office (CSO) recorded 20,560 homes being built.

According to the CSO, there were 7,544 new homes completed in the third quarter of 2022.

In particular, the number of apartments built in Q3 are up significantly compared to the same period in 2021. In Q3 2022, there were 2,445 apartments built and in Q3 2021 there were only 965 apartments built.

Martin and O’Brien told Cabinet Ministers this morning that there have been over 21,000 new homes started between January and September.

There are also over 8,200 social homes under construction.

The CSO has also said that there was planning permission granted for 19,837 new homes in the first half of 2022.

The updated plan will also include a review of the current private rental market, which is set to be commissioned by the Department of Housing early next year.

The Government expects to have this review completed ahead of Budget 2024.

It comes as recent reports have shown that there have record shortages in the number of rental properties available to rent, with the latest Daft.ie report showing there were only 716 homes available on 1 August.

Draft legislation on reforming the current planning system is also expected to be brought to the Government for consideration before the end of the year, after a review was started last September.

The plan is seeking to make the planning system “more accessible” for the public.

This is set to include streamline both Compulsive Purchase Orders and Judicial Review processes.

The update comes as the Taoiseach spoke in Mulhuddart in Dublin yesterday at the launch of over 60 new social homes.

He told reporters that next year’s housing targets will be more difficult to achieve, with over 29,000 homes needed to be constructed.

“That means we have to be constantly looking at ways to do things in a more timely way,” Martin said.

COP27

The Government also signed off on Ireland’s agenda at Cop27 in Egypt next week.

Environment Minister Eamon Ryan is expected to attend the event.

It comes a year on from his attendance at Cop26, which was disrupted with issues around Covid-19 testing.

Ryan was given authority by the Government today to represent Ireland’s interest at COP27, allowing him to join or support any international climate initiative or coalition as appropriate, both in advance of and during the meeting.

Overall, the Cabinet memo today provided for Ireland to participate fully at COP27.

It outlined Ireland’s preparations and priorities for COP27, including:

  • Concern about the latest findings of the United Nations Emissions Gap Report
  • Commitment to scaling up our international climate finance to support some of the most vulnerable communities and people who are fighting climate impacts
  • Achieving greater ambition through a science-based approach and enabling sustainable climate resilient development through use of clean and renewable energy sources
  • Continued advocacy for COPs to be transparent and inclusive by promoting a diverse citizen participatory approach to climate action. 

This year a climate youth delegate will join Ireland’s delegation and Ireland will continue to facilitate civil society attendance and engagement at meetings.

With reporting by Christina Finn

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