AN ANALYSIS of the current Mid-West housing market and a panel discussion on planning and development were some of the highlights of the Construction Industry Federation (CIF) Mid-West Summit.

The second annual CIF Mid-West summit took place in the Castletroy Park Hotel.

Chairman of CIF Mid-West Michael Joyce wore his gold chairman chain as he gave a warm welcome address to all in attendance.

“The Mid-West has a long tradition in construction. Over 15,000 people here work in construction, making up 10% of the country’s total.”

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“However, the Mid-West has rarely seen 10% of the national construction output take place here.

“That is why today’s event is of such importance,” Mr Joyce said.

The summit was a chance for developers and others in the industry to hear from local experts on the opportunities and threats to the development of the Mid-West region whilst highlighting the potential the region has for development.

The first keynote speaker on the night was Lisa Kearney Director and Head of Residential New Homes and Sales at Rooney Auctioneers.

Ms Kearney gave an informative presentation on the current housing market in the Mid-West for the past year.

Ms Kearney detailed that housing stock has decreased in the last year but it has increased over the last few months.

“There are not enough houses on the market to meet the demand. The huge tsunami of people coming back that we witnessed after Covid is beginning to peter out,” Ms Kearney said.

“People still are coming back but not on the same levels that we saw after Covid,” she added.

She also detailed that private renters in Ireland have increased to 84%.

“That is a stark percentage,” Ms Kearney said.

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“Market rents in Q3 of 2022 in Ireland were an average of 14.1% higher than the same period a year earlier.

“That is the highest ever increase recorded on Daft.ie,” Ms Kearney added.

It wasn’t all stark percentages at the summit, however, as an open discussion on planning and development opportunities was also held, which helped highlight the potential the Mid-West region has.