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 Post subject: Government to Subsidise only 1 in 10 Empty Homes in Ireland
PostPosted: Fri Oct 31, 2008 2:06 pm 
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Government to Subsidise only 1 in 10 Empty Homes in Ireland

Latest analysis by users of the website, http://www.thepropertypin.com, estimate that only 1 in 10 empty houses are to be subsidised by the Government's "Developer Friendly" revamped Home Finance Agency, leaving over 300,000 empty houses across the country that will not qualify for state aid.

This is a staggering 17.6% of the entire housing stock in Ireland.

The 2006 census enumerators officially encountered 300,000 empty homes across the country [1] .Of these, 275,000 were vacant year-round, save for some holiday homes. Irish Holiday homes do tend to be rather empty in April.

Based on the extraordinarily high level of building completions since that census, it is now estimated that up to 350,000 homes remain vacant or largely empty in Ireland today.[1][2][3][4]

Industry mouthpieces assert this is a misrepresentation of the reality on the ground, claiming that only 35,000 new homes are for sale which would leave the average person to conclude that Ireland either has 315,000 holiday homes or 315,000 extra empty units in a market ready state. Or in "turn-key" condition to use the industry parlance...

Were the former true it would mean that 15.8% of all homes in Ireland are holiday homes or that almost 1 in 5 households owns an Irish holiday home on average.

If, however, the latter is the case, then buyer perception that more value is on the way because of a massive housing oversupply would surely not be misplaced.

It also has been estimated (largely in the 2006 census )[1] that only 50,000-60,000 of the total figure of 350,000 empty houses can possibly be accounted for as holiday homes.

That means, that of the 350,000 empty homes today:

1. 35,000 belong to Tom Parlon's Members for whom the Homechoice Scheme was Created.
2. 60,000 are 'Real' holiday homes.
3. 255,000 are 'Pure' empty.

Furthermore the ENTIRE rented sector in April 2006, at the time of the census, was:

Private, Rented, Furnished and Unfurnished = 145,000 Homes
Local Authority Rented = 105,000 Homes
Voluntary Body Rented = 50,000 Homes

TOTAL RENTAL SECTOR 300,000 Homes [1]

Making Ireland the ONLY country in Europe with more empty homes than rented homes of all kinds.

Sources
[1]http://www.cso.ie/releasespublications/statistical_yearbook_ireland_2008.htm
(Census 2006 Data All of the tables in sections 21.3 onwards )
[2]http://www.cso.ie/releasespublications/documents/population/current/popmig.pdf
(For updates to Population Information from Census )
[3]http://www.environ.ie/en/Publications/StatisticsandRegularPublications/HousingStatistics/
(House Completions)
[4]http://www.esb.ie/esbnetworks/downloads/esb_networks_summary_statistics.pdf
(Houses with ESB Connections to end 2006 )

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