The days of the long commute are back with a new wave of house buyers willing to travel for over an hour to work in order to find affordable housing.
According to a national survey carried out by Real Estate Alliance, price rises in outer commuter ring locations are being driven by Dublin-based first-time buyers being forced further out from the capital by the Central Bank’s deposit rules.
The average price of three-bed semi nationally is now €191,194 while the average price of a three-bed semi in Dublin City and County is now €334,000.
There are also new proposals to cut VAT on new homes in order make buying a house more affordable.
The Construction Industry Federation has said the cost of a €300,000 house could be cut to €200,000 if the next Government reduces tax levels.
Guests Michael O’Connor, Real Estate Alliance chairman and auctioneer, Tom Parlon, Director General of the Irish Construction Industry Federation and Frank Conway of the ‘Irish Financial Review’ debate what can be done to solve the Irish housing crisis.
Listen back here:
