Survey suggests measures needed for affordable housing
A new survey has found that four out of every five adults think the Government should introduce new measures to improve the supply of affordable housing here.
The research, carried out by Behaviour and Attitudes on behalf of employers’ group Ibec, also found that a third of respondents would like to be able to buy a home in the next two years.
But just 15% of both first-time buyers and movers think they would be able to do so.
“Housing supply and affordability is clearly one of Ireland’s main societal challenges but it is also a significant constraint for employers and the wider economy from a talent attraction and retention perspective,” said Fergal O’Brien, Ibec Director of Lobbying and Influence.
“A renewed national effort is required to address the housing issues which are now undermining the quality of life for so many people in Ireland.”
The survey of 760 adults conducted last month found more than half of those polled are in favour of the Government’s shared equity scheme, with a third expressing an interest in availing of it.
Almost a third of those respondents who are renting a property said they see mortgage approval as a barrier to purchase.
16% believe that they will not be able to borrow sufficient funds from a bank, the survey revealed.
Among the younger age groups, half said they would consider moving to rural areas for housing and quality of life factors.
51% of those aged 18-34 said they think it will be between 3 and 10 years before they can buy a home.
The demand for purchasing or moving home is greatest in the Dublin region, amongst those at pre-family and family pre-school lifestages, as well as within the white collar and professional working status, the survey found.
“This new research underlines the scale of pent-up housing demand and also identifies the main challenges to home purchase which include a lack of availability in the right areas, affordability and bank lending constraints,” Mr O’Brien said.
The survey also revealed shifting trends in what potential buyers are looking for driven by the pandemic, with almost two thirds of respondents saying it is important for them to have a garden or outdoor space in their home.
A similar proportion said having extra space to use as a home office had become more important since the Covid-19 virus arrived.