Peter Lang

Ireland's housing system is in a state of disrepair, primarily due to ineffective Government policies. My graphic illustrates the large number of vacant and derelict properties in Dublin City. It also shows the 4,666 entire houses or apartments currently listed for short-term letting on the Airbnb platform, with a total of 18,649 across Ireland. Homelessness in Ireland has reached another new record high, with 14,760 people homeless and relying on emergency homeless accommodation, including 4,561 children from 2,133 families, according to the latest figures released by the Department of Housing. The Government failed to meet its social and affordable housing targets by 2,680 homes last year and significantly underestimated the number of houses needed to be built annually by 17,000. It's widely accepted that Ireland requires up to 50,000 additional houses each year; however, the government's "Housing for All" plan only aims to build an average of 33,000. The 2022 Census shows that the country has 166,752 vacant homes and 66,135 empty holiday homes. Interestingly, nearly a third of these vacant homes (48,387) have been unoccupied long-term since 2016. Predictably, rent has doubled over the past 13 years and house prices have surged by 55%, marking the fastest growth in any major EU economy. Currently, Vulture funds own 1 in 6 mortgages in the Irish housing market, while Cuckoo funds and the State purchase 42% of new homes. This situation has led to a record number of first-time buyers competing for the smallest supply of housing stock in over a decade. Nationally, just over 11,000 homes are available for purchase, a stark contrast to 2012 when 60,000 homes were on the market. To add to the crisis, the income needed to buy a new home in Dublin is €127,000, which surpasses even a TD's basic salary of €108,987. Consequently, 68% of people in their late 20s still live with their parents, a figure that is nearly 26% higher than the EU average of 42.1%. #Dublin #Ireland #HousingCrisis #DerelictIreland #homeless #Airbnb #upfrontwithkatiehannon