ESRI's renewed crticism of the Central Bank's mortgage restrictions

[Andy836]

That's correct Brendan.

BCAR, dual aspect/units per common core requirements, development levies and part V are costing too much.
I've seen reports suggesting the per unit cost of BCAR & Part V are €37k in Ireland compared to approx €300 in the North.
At least the latest directive from the Dept Envi sought to alleviate the units per core & dual aspect issue but to add insult to injury DCC & DLRCC now required passive standards. Not everyone can afford a rolls royce - most people are fine with a ford mondeo.

The most popular political theory now seems to be a vacant site tax. Adding more costs to the cost of construction is not going to solve this problem.

 

[Brendan Burgess]

Hi odyssey

Yes, but they also wanted to make it fairly easy for everyone to understand.

I am not sure why they picked the 3.83 figure for the study. But I haven't read the whole paper.


Brendan

 

[odyssey06]

Hi odyssey
Yes, but they also wanted to make it fairly easy for everyone to understand.
I am not sure why they picked the 3.83 figure for the study. But I haven't read the whole paper.
Brendan

I appreciate that, but they seem to have focused too much on the press release side of things ... Given the fixed costs in new houses e.g. council levies, building standards, I think anyone seeking a mortgage would be prepared to fiddle with a calculator (a real one or an app) if 3.83 put them in range for a property where 3.5 would not.