Sherry FitzGerald call for more building to cater for future needs

Sherry FitzGerald call for more building to cater for future needs

Marian Finnegan of Sherry FitzGerald

The chief economist with Sherry FitzGerald auctioneers claims plans need to be made for the future to accommodate a growing population.

Marian Finnegan said there has been drop in the number of retail units available for sale, which is putting pressure on potential buyers and pushing prices up as a result.

“We need to start planning for the future. We’ve been talking about this for some time now, and obviously, during a recession, no-one wants to think about building property. But that’s what we need to be planning, at least,” she said.

“For the last five years, the population has grown by about 8%, and an awful lot of that population growth went into the urban areas … yet we’ve been building next to nothing in terms of housing units.”

She said the resulting scarcity was increasing both rent and buying prices in the capital.

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