Irish Housing Minister promises progress as property prices rise by 12.4% in last year

The video discusses the challenges and trends in the housing market, focusing on supply constraints and inflation. It highlights the impact of the pandemic on housing supply and the subsequent inflation in house prices. The speaker provides an analysis of current market trends and outlines future projections for housing delivery in 2022, emphasizing the importance of affordable housing initiatives. The discussion also places the Irish housing market in a global context, comparing it with trends in other OECD countries.

What is one of the main challenges discussed in the housing market?

• Excessive supply of new homes

• House price inflation

• Low demand for housing

• Stable market conditions

What is expected to help improve housing supply next year?

• Reduction in construction costs

• Increase in interest rates

• Affordable Housing Act

• Decrease in population

What new housing option was introduced recently?

• Luxury apartments

• Cost rental tenancies

• Shared ownership schemes

• Subsidized mortgages

How does the housing market situation in Ireland compare to other OECD countries?

• Ireland has a unique housing market situation

• Similar challenges with constrained supply

• Ireland has a surplus of housing

• Other countries have lower house price inflation

What is the commitment for housing delivery next year?

• Building luxury homes

• Focusing on commercial real estate

• Delivering over 9000 new social homes

• Reducing housing projects