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THERE ARE MORE than 250 so-called ‘ghost estates’ leftover from the boom, but few if any will be of much use to the main housebuilders, according to one analyst.
A government report published this week found that there are 256 unfinished housing developments across the country, down from almost 3,000 nearly a decade ago.
Within the hundreds of unfinished developments, more than 670 dwellings are completed but vacant, over 3,000 are at various stages of completion and almost 5,740 haven’t been started yet. Some 4,600 dwellings are completed and occupied.
According to a draft version of the Department of Housing report, the majority of ghost estates are located in counties Cork, Roscommon, Donegal and Kerry.
The only locations where there are no ghost estates are Westmeath and south Dublin.
Poor locations
Housing department officials expect that “a good number” of ghost estates will move off the list this year as some sites have been put up for sale or have had new planning applications lodged on them.
However, asset management firm Investec said in a morning briefing note that it’s unlikely any of the main housebuilding firms will acquire the sites because most are in poor locations.
Investec economist Philip O’Sullivan described ghost estates as “one of the most visible manifestations of the excesses of the property bubble of the early noughties”.
“With the national housing stock standing at slightly over 2 million units, the total capacity … of the remaining unfinished developments equates to less than 0.5% of the housing stock,” he said, adding that the government effort to fix the problem is “welcome”.
However, O’Sullivan said it is unlikely that all the remaining plots will be built on “given the location of some of these estates”.
“With most of these estates located outside of the main urban centres we see few, if any, opportunities for the likes of the listed housebuilders and REITs (real estate investment trusts) to acquire units or development assets from this source,” he said.
Written by Conor McMahon and posted on Fora.ie
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I look forward to the episode of Top Gear where a half cut Stig ferries punters at record pace to and from the Healy Raes pub in Kilgarvan.
I thought the Stig was Schumacher?
Catch up, Boo!
The Healy-raes won’t be happy that Brendan Griffin is stealing their limelight ….
Politicians getting priorities right once again
Promoting tourism, what’s wrong with that. If it brought just 1000 more visitors to our shore then it’s worth it. Better pushing this than a pot hole repair outside mrs Murphys house that only 2 cars drive on.
What tourists? World knows Kerry is beautiful and no amount of gas guzzling clarkson supporters will make it any better
So you’re saying a politician promoting an amazing driving route with the help of the world’s biggest motoring show is a bad thing??
I’m saying there are bigger issues this TD is not covering, and top gear support racism so not exactly encouraging for the TD
Each politician has different roles and responsiblities. By promoting the Wild Atlantic Way, especially to a vast world wide audience through Top Gear, Griffin is potentially increasing tourism and thus revenue to these areas, hopefully creating a few more jobs along the way. That is not my definition of a bad thing. On your racism comment, Clarkson mummbled the N word in a line of a song during a bloody out take. He neither directed it at anyone, nor wrote the lyrics himself. He also immediately made a groveling apology when this little whisper was heard. To say the entire BBC support racism because of an overreaction in a world gone mad with political correctness is just foolish.
Also Brendan Griffin deals with every issue the people of Kerry bring to him, no matter how small! The man has great time for everyone and has good ideas at national level to boot! An honest, hard working politician. A very rare breed!
Brilliant idea! If they did happen to come across puck fair they would think we’re mental!
All are welcome to visit the Kingdom of Kerry.
Thanks
You would never make it Kevin, they’ve no pringles down there.
Kevin Higgins you talk a lot of crap. Find out your facts before you start spouting!
Looking forward to seeing it. A beautiful part of our beautiful country.
Golden opportunity to highlight our country, never mind the whining from the ecoloons most of us drive and Jeremy Clarkson would bring more tourists here than O’bama.
Maybe if RTE & the government of the day supported Irish motorsport there would be no need to ask (pay) a British production company to promote Irish roads. The Irish Tarmac Rally Championship gets zero coverage in the media, as does the Circuit of Ireland Rally or events at Mondello Park, yet all of these events are well attended and have the potential to be much bigger both at home and abroad.
I watch Top Gear and they do a good job at promoting most of the countries they visit, Mexico being the obvious exception. But if there is money changing hands for this to happen I feel it could be better spent elsewhere, where it is actually needed and where the long term benefits outlast a few stylish aerial shots of a bunch of multi millionaires in foreign sports cars rippin’ up the Ring Of Kerry.
Top gear in Kerry , they should have them over for the puck fair
You young people won’t remember, but Top Gear was once an informative half-hour magazine programme about cars and motoring.
and you might remember Neal – that show got axed
Ha true, with Quentin Wilson and some fella with a beard whose name I can’t remember.
Chris Goffey I think. And a fine beard it was too!
Speaking of beards, Noel Edmunds presented Old Top Gear back in the day too.
hmmm , it will like the episode they filmed in Albania ,somehow everyone will look like an overweight toothless hillbilly, staring in amazement as the brits abroad dazzle them in their bling.
What do you call a kerryman sitting on top of a bag of potatoes?
Top of the pops.
Some say his driving skills are the result of reverse-engineered alien biotechnology….
Some say stig honed his skills on the starship enterprise and it was him not Scotty who said the engines will blow sir .
Why would you invite that arrogant buffon Clarkson anywhere.
Maybe the TD is cool with racists
Denise, are you ever happy? Even on a good news story you manage to have a sad comment. Can’t be healthy for you
I think Clarksons racist comments were sad, shows his fear of other races , or hate were really unsure as he refuses to comment on it . I guess you can’t teach an old dog new tricks
So does that mean the black people fear their own race as they constantly refer to themselves by that word?
Wow
Wow.
Because Denise
Millions and millions watch Top Gear – are you that stupid?
Jesus Aaron. Your not supposed to use that word “b***k”
Didn’t know they replaced The Stig after Ben Collins left.
have your say