Is Ireland's 300,000 Housing Target a Pipe Dream?

A Developer's Measured Response

Glenveagh CEO Stephen Garvey's reaction to the Irish government's ambitious housing targets was, shall we say, diplomatic. While acknowledging the 300,000-home goal by 2030 as "what the country needs," he stopped short of endorsing its feasibility. His measured response hinted at the underlying challenges.

Garvey highlighted the crucial trifecta: cost control, capacity (land, services, and infrastructure), and capital. Achieve these, he suggested, and Ireland might be on a "trajectory" to meet the target. A trajectory, mind you, not a guarantee.

The Developer's Dilemma

It's important to remember that solving the housing crisis isn't solely the responsibility of private developers like Glenveagh. They play a crucial role, especially given the public sector's struggles to deliver at the required scale and price. But the onus shouldn't fall entirely on their shoulders.

Garvey has even expressed openness to more radical solutions, like a state-owned residential developer, questioning only its feasibility and speed of implementation. This open-mindedness contrasts sharply with the government's apparent reluctance to explore truly innovative approaches.

Government Inaction and Recycled Solutions

A recent "special" Cabinet session on housing yielded predictable results: discussions about activating brownfield sites and regulating short-term lettings—hardly groundbreaking solutions. The government, thankfully, seemed to resist the temptation of more tax breaks for developers, a well-worn crutch of previous administrations.

It's not that the government is entirely inactive; its policies are a tangled web of interventions. Yet, despite the complexity and increased funding, the crisis deepens by nearly every metric: rising house prices and rents, escalating homelessness, and a surge in eviction notices. The definition of insanity, some might say.

A Losing Battle?

The government continues to wage this long-running war with the same tired weapons as its predecessors. Can we blame the public for their cynicism? When the same strategies consistently fail to deliver, it's time to question the approach, not just the execution. Ireland needs fresh thinking, not recycled rhetoric.