Reacting to new residential property figures released by the CSO today, Property Industry Ireland (PII), the Ibec group for businesses working in the property sector, said that the growth in both house prices and rents indicate that the budgetary measures aimed at increasing housing supply need to be implemented as quickly as possible.
PII Director, Dr. David Duffy stated: "The strong rate of increase in prices and rents shown in the figures released by the CSO today, continues to reflect the imbalance between supply and demand. The measures announced in Tuesday’s Budget need to be put in place as soon as possible. PII would like to see additional measures aimed at maintaining and increasing the number of rental properties in the market.
“We must continue to look at how the viability of homebuilding can be improved and work to remove remaining barriers to the speedy delivery of new homes across all tenures.”