IGEES Housing Analytical Notes
From Department of Public Expenditure, NDP Delivery and Reform
Published on
Last updated on
From Department of Public Expenditure, NDP Delivery and Reform
Published on
Last updated on
Review of the Rebuilding Ireland Home Loan, 2018 – 2021
Utilising available data covering the period from February 2018 to end 2021, this analytical note examines activity under the Rebuilding Ireland Home Loan (RIHL) scheme, mortgage values approved under the scheme, and funding allocations across LAs.
Average drawdown amounts were typically below average approval amounts and median first-time buyer mortgages. Given the terms of the scheme and the low average approval and draw down amounts, it is likely that the scheme was being used in combination with the Tenant Purchase Scheme. It is also likely that homes being purchased under the scheme were typically those in the lower deciles of the deciles of the value distribution in any given local authority. There is a need for a more detailed dataset which would allow for greater understanding of the types of properties being purchased under the scheme, the social impact of the scheme and the potential risks it poses to the Exchequer.
Review of the Rebuilding Ireland Home Loan, 2018 – 2021
Planning Permissions and Housing Supply
This note utilises Local Authority planning application data from 2012 to 2022 to examine planning refusal rates, decision timing and appeals. It discusses factors identified in the housing literature that could explain the increase in the number of planning permissions for apartments that have yet to commence.
Larger developments, as well as developments in counties with large urban centres and in the Greater Dublin Area, tend to have higher rates of refusal, longer decision times, and higher rates of appeals.
Low planning activation rates could arise from land banking, viability constraints from rising construction costs, and speculation in the land market whereby planning permission is utilised as a means to increase the value of a site.