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Dublin housing crisis restricts employers' ability to recruit

24.09.18

4 in 5 hiring managers cite housing issues as biggest obstacle to attracting talent to Dublin.

New research commissioned by specialist regeneration and property developer U+I shows that Dublin's housing crisis is seriously hampering business' efforts to recruit and retain talent in the city.The Housing availability, recruitment and retention in Dublin research, conducted by market research company Behaviour & Attitudes*, surveyed over 100 senior hiring managers representing large national and international employers in Dublin. Despite a majority saying that well paid, high-quality jobs are the main attraction to working and living in Dublin, 78% of respondents said that the high cost of accommodation is the single greatest obstacle in attracting talent to the city.

Three quarters of those surveyed also responded by saying that the limited availability of accommodation is hindering their efforts to recruit, as many young professionals and single middle-income earners are priced out of the Dublin market. This new research quantifies for the first time the challenges posed by the housing crisis to Dublin's position as an attractive location for international talent.

Download the infographic (PDF 117Kb)

 

These findings are even more stark when considered alongside the research compiled by Amárach Research** which found that the centre of Dublin is at risk of being 'hollowed out' accessible only to high earners at the expense of younger people, single person households and middle-income earners.

 

"Young people in particular are living increasingly compact, experientially driven lives, looking to live and work in city centres. U+I has worked on a number of intelligently designed living solutions for housing and community focused mixed-use projects and its Compact Living model is one such example."

Matthew Weiner

Following the publication of the research results, U+I chief executive Matthew Weiner said: "We have seen much discussion in the media about the impact a shortage of the right kind of homes in the right locations is having on recruitment. This research provides hard evidence that this is a reality for employers. This is a real concern as attracting and retaining talent is the number one issue. Diversity, next generation talent and creativity are essential ingredients for a thriving modern city and the housing market needs to adapt and respond to ensure that Dublin maintains a competitive labour market and vibrant culture.

Matthew Weiner continued: "The results of this research and other reports we have recently commissioned show, quite clearly, that consumer and lifestyle habits are changing. Young people in particular are living increasingly compact, experientially driven lives, looking to live and work in city centres. U+I has worked on a number of intelligently designed living solutions for housing and community focused mixed-use projects and its Compact Living model is one such example. These purpose-built, self-contained, rental-only homes have been designed to maximise available space and cater the needs of single person households.

Compact living is just one example of a broader suite of solutions, alongside thoughtful mixed-use regeneration, which we believe is required to tackle the housing supply challenges Dublin faces. Ideally, we would like to develop these types of innovative housing solutions on sites in association with public sector bodies, who have unused and underdeveloped land in Dublin City Centre. Such partnerships could release significant value for the public purse and provide housing options that are so urgently needed."

ENDS

*Research commissioned by U+I Group Plc, conducted by Behaviour & Attitudes
** Research commissioned by U+I Group Plc, compiled by Amárach Research

Media enquiries:
Deirdre Smith / Joe Bishop
(+353) 1 662 4712
uandi@humebrophy.com
Notes to Editors

Compact Living homes, are 24 sq. m. apartment homes, which are purpose-built, self-contained and rental-only. These homes are designed to maximise the available space, containing everything required to allow residents to live in comfort and in privacy including kitchen, ensuite facilities, washing machines and storage. They contain the benefit of access to shared spaces when required, such as private dining rooms, laundromats, onsite gym and workspaces. These homes stand to appeal primarily to young professionals, keyworkers and individual middle-income earners looking for a foothold in a thriving capital city, and can play a key role, alongside wider mixed-use developments, in solving Dublin's housing crisis.

When briefed on U+I's compact living development proposals, more than 3 in 4 believe that these apartments would be attractive to potential employees. While the concept is yet to be rolled out fully on the ground, equipped and functioning units have been constructed in prototype form at U+I's London offices.

About U+I

U+I is a specialist regeneration developer and investor with a €8bn portfolio of complex, mixed-use, community-focused regeneration projects including a €160m investment portfolio. We are unlocking urban sites bristling with potential in the London, Manchester and Dublin city regions.

Having expanded our Dublin footprint significantly since 2012, U+I has a number of exciting investment and regeneration projects ongoing, including Donnybrook House and Carrisbrook House in Dublin 4, and Ballymoss House in Sandyford Industrial Estate; with ambitious plans for future expansion in the Dublin market. We exist to create long-term socioeconomic benefit for the communities in which we work, delivering sustainable returns to our shareholders.

To find out more, visit www.uandiplc.com or follow us @uandiplc 

About Behaviour & Attitudes:

Behaviour & Attitudes is Ireland's leading independent market research agency, offering a comprehensive suite of tailormade quantitative and qualitative methodologies. We provide clients with a deeper understanding of their brands, their consumers and the markets within which they operate. We explore and establish the potential for competitive advantage.

About Amárach:

Amárach is an innovative research and advisory agency, working with clients for over 25 years to turn information into insight, and insight into foresight. Amárach's team of psychologists, economists and data analysts draws on market research and data analytic techniques to help its clients succeed and grow through a better understanding of their own customers' needs – both now and in the future.

 

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