The eighth edition of Knight Frank’s New Homes Construction Survey shows some compelling findings at a critical point for the housing market in Ireland.
- The planning process is now the greatest barrier to increasing housing output in 2023, topping cost concerns which were identified as the main obstacle to delivery in 2022.
- 33% report that it is taking between 7-12 months to receive a grant of planning permission from a local authority. In addition, 32% believe that an appeal could add 11-15 months to the planning process while 46% estimate that a judicial review could add anywhere in excess of 21 months to the planning process.
- Overall, a planning application could take in the region of four years to be successful.
- While annual building material and labour cost inflation is expected to ease in 2023, it will remain at an elevated level.
- 72% expect that it will be difficult or more difficult to obtain development finance in 2023 when compared to 2022.
- 92% are concerned that the residential zoned land tax has the potential to impact the viability of the sites that fall within its scope.
Robert O’Connor, Associate Director
