Yesterday, at the 2011 Housing Practitioner’s Conference in Mullingar, Housing Minister Willie Penrose unveiled the Government’s radical plans to transform policy in the sector. Speaking at the conference he said; Ireland’s housing bubble will never happen again.
One of the main reasons of the new framework for the housing policy was in response to current and emerging conditions in the sector, taking account of the dramatic cycle of rapid growth and sudden collapse in the residential property market. The policy aims to set out the Government’s approach to regulation of the wider housing market and is all about “providing people with more choices.”
Taking a complete U-turn on policies of the last decade that contributed to the housing bubble and one that played a major role in our economic downturn, Minister Penrose said that “the Government would aim to promote a more balanced view of the housing market and of housing generally. We recognise and welcome the fact that home ownership will continue to be the aspiration of the majority of households. But there are other households who either do not want or may not ever be in a position to own their home. We need to provide choice for such households. This choice will be on the basis of household circumstances and need. The development of a vibrant, viable private rented sector – as a real alternative – is essential”.
Have your say:
- Will the new framework for the housing policy help return stabilisation to the market and prevent future property bubbles?
- Is renting / long term renting a more viable and financially better option than buying? – a method used by many European countries.