100% the right decision. We need prices to come down not people to be able to spend more on a bigger mortgage.


Yes I concur. However unfortunately without margins for builders becoming better we are unlikely to build enough to meet demand. The only real solution to ramping up building supply without bigger loans? Make it cheaper to build.


Unless we remove planning permission laws preventing people from building on their own land or building things like cabins or living in tiny homes. All of which would reduce demand to allow supply to catch up


They expect materials costs to plateau next year, but there's already been signs that timber prices might fall sooner than expected. It's looking like (time will tell if true) that many companies over-ordered the building supplies they needed, and many of those orders are being cancelled. Which is leading to drop in prices. Savings in materials costs might make housebuilding more attractive to the industry than it presently is. Builders can make more money - and have their people employed for longer - by building high-density commercial and hotels. They're not slaves, like. We can just force them to build homes, and cheaply.


My Gran rang me yesterday because she was reading the paper and saw a cottage for sale in Dublin 8 for 260k and thought I might be interested. Now granted a 1 bed cottage for 260k is a lot less than a lot of other places for sale at the minute. I had to explain to her that under the current rules I could get a max of about 175k + deposit. Which is very difficult to understand for someone who bought in Dublin 13 for 20k in 1989. So the reality is that I can't buy anywhere in Dublin. And I know people are saying oh well the cost of houses needs to come down, but will it come down 100k or more? I damn well doubt it. No wonder most of my mates have emigrated. Ireland is no country for single people.


It’s probably a good idea for the government to stop driving everyone into Dublin lin by providing no services elsewhere and not allowing Int people in the country to build their own houses through planning permission restrictions to reduce demand so!