Byrne Wallace Shields LLP Housing Convention 2023 highlights potential solutions to boost housing delivery and to address challenges impacting supply and availability of housing

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The Byrne Wallace Shields LLP Housing Convention, took place at the Aviva, Dublin on Thursday, 21 September, in association with Property Industry Ireland (PII). Its aim was to highlight challenges impacting the supply and availability of housing and to discuss potential solutions to boost housing delivery.

The Housing Convention brought together over 300 key industry leaders and representatives from both private and public sectors, traditional and alternative lenders, investors and developers.  

Minister for Finance, Michael McGrath T.D., gave the keynote address and Marian Finnegan, Managing Director of Sherry FitzGerald Residential & Advisory, outlined the current challenges and opportunities for the Irish residential market.

Minister for Finance Michael McGrath T.D. said: "Significant progress has been made in housing over recent years and the issue remains the Government’s number one priority. Under our 'Housing for All' plan the Government is making record State investment in housing with €4.5 billion of State funding committed in 2023. Only through co-operation and collaboration between the State and private stakeholders can we continue to make progress."

In addition to keynote speakers, the Convention also featured two panels of industry experts who discussed capital, funding, planning constraints and solutions and the role of the State and of public private partnership in housing delivery and availability. The Convention concluded with a fireside chat with Dr. Bill Nowlan, founder Oracle Real Estate Strategies, and Pat Farrell, CEO, Irish Institutional Property (IIP), moderated by Michael Walsh, Chair of Property Byrne Wallace Shields LLP. 

Michael Walsh commented: “The viability of new home schemes and policy stability were the two most prominent concerns of attendees at our Housing Convention today.  There were calls for housing to be removed from the political arena, and an all-party approach to be taken to the development and implementation of housing policy.  Integral to viability is the issue of rising development costs. Delays in the planning system featured strongly in panel discussions, recognising the increased cost burden, ultimately passed to purchasers, in the nature of debt interest roll-up and construction cost inflation when planning decisions are delayed, appealed or judicially reviewed. There was broad acceptance that the State has become the most important actor in the housing market, but a realisation that there is potential for over-reliance on it, with some calls for measures to boost institutional and private investor and lender activity in the sector.”  

Chair of PII Ivan Gaine added, “While much has been done by Government to support housing delivery, Ireland still does not provide enough homes to meet our demographic needs. The NPF review and proper targets by tenure is a critical undertaking which needs strong focus and, with tweaks, there could be significant delivery under Croi Cónaithe & STAR. Today’s discussion highlighted these issues and, importantly, some of the solutions.”

With panellists experienced in both Irish and international property markets, the Convention sought to explore the challenges and solutions needed to unlock housing delivery, and achieve a consensus on the key measures needed to overcome these challenges going forward. 

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Pictured at the Byrne Wallace Shields LLP Housing Convention, in association with Property Industry Ireland (“PII”), at the Aviva, Dublin, (L:R) Managing Director Sherry FitzGerald Residential & Advisory Marian Finnegan, Chair of Property Byrne Wallace Shields LLP Michael Walsh,  Minister for Finance Michael McGrath T.D., Head of Property Byrne Wallace Shields LLP Alison O’Sullivan, and Chair of PII Ivan Gaine.