Dublin buyers fed up with pent-up demand

From the Irish Times today: Dublin buyers fed up with pent-up demand

We couldn’t agree more.  Its time for more supply in the housing market.  There is action central and local Government can take to speed up planning approvals & remove disincentives to developing current approvals (there are many).  All of this can be done with the stroke of a pen and without costing a penny (in fact, when you realise that the Government collects 13.5% of the price of every new property in VAT, together with stamp duty and corporate taxes on the developer, not to mention contributions to local Government, and the JOBS) it costs money to not take action.  Nobody wants to go back to the bad old days of queues outside houses – that was caused then by under supply and the same thing is happening now except this time we can choose to learn the lessons of the past and we can do something to stop it.

Posted on March 6, 2014 in Property

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