Poor access to housing a threat to Mid-West's ability to attract talent
Positives such as the Mid-West's very strong access to quality education and great lifestyle choices are being undermined by poor access to housing across the region.
Limerick Chamber's newly published Mid-West Economic Insights (MWEI) 2025 report notes that employment in the Mid-West had reached an all-time high of 274,000 at the time of writing the report, it now sits at 279,000, with unemployment now sitting at 3.4%.
The region's third level colleges and research institutes provide a very good local talent pool. The Mid-West also attracts a lot of overseas talent, accounting for 8.3% (1,905) of all national work permits issued.
However, the report also warns that low levels of new housing, with prices soaring in tandem with standout regional buyer demand, will prove a deterrent to the Mid-West's ability to attract both investment and talent unless rapidly addressed.
The Mid-West saw a 44% increase in home prices over the past five years. House completions are up. Limerick (+29%) and Clare (+34%) compare positively to Tipperary's c.5%, but supply remains far below demand. Limerick completed around 1,000 homes in 2024, while the Housing Commission suggests Limerick could need 2,000 to 4,300 homes to meet demand.
Alarmingly, just 5.4% of 'affordable' homes were delivered in Limerick, compared to 61% in Dublin, highlighting a glaring regional disparity. In 2023, non-household entities were responsible for almost 60% of housing purchases across Limerick, while the national figure was almost 42%. Rents rose by 77% in Limerick city over the past five years, and by over 60% in Clare.
In this Q&A interview, Seán Golden, chief economist, and director of policy at Limerick Chamber, as well as author of the MWEI 2025 report, looks at the economic opportunities and challenges facing Limerick, Shannon, Clare and the rest of the Mid-West.
How do the education options and lifestyle appeal of the Mid-West play into the region's all-time high employment figures?
The education piece is huge value-added; it means any business choosing to set up or grow in the Mid-West has access to a large graduate base, with the region producing almost 11,000 graduates per year. With the availability of roles, people are far more likely to stay in the Mid-West after graduating. It is also a great thing to have diversity across the education sector, with more and more apprenticeship programmes being offered each year to ensure that all bases of the education spectrum are covered.
We are constantly asked about the 'lifestyle' of the Mid-West when companies are doing site visits on where to set up their business. There is a real drive from businesses to ensure that employees have access to a great lifestyle. In the Mid-West, access to an international airport is great to have for mobility, but so too is travel time between work and home, with Limerick and the wider Mid-West offering shorter journey times than other cities. There's also the selling point of events like 'Riverfest' in Limerick, which are hugely attractive to families, single people and everyone in between. So creating that perfect 'mix' is key to attracting and retaining talented people.
What are the key challenges unveiled by the MWEI 2025 report to the region's ability to attract and retain talent?
The biggest challenge by far is housing, while the Mid-West increased its overall output in 2024, it is a drop in the ocean of what is actually required — we need to see housing output quadruple in some cases. But it isn't just about unit delivery. We also need to ensure that we are building the right homes for our population, we are seing huge demand for apartments for employees across the Mid-West, and a huge demand for homes for single people, but oftentimes these apartments are bought for public housing by the state. We also have the added challenge of people wanting to live in the city centre, with very little private development, or affordable development coming forward in the short-term in urban centres in the Mid-West.
Given what I said previously regarding education, travel times and lifestyle, if we don't have the houses to retain and attract the people, then we will fail to deliver in other areas.
What actions are needed to rebalance the region's fluctuation in areas like logistics and haulage?
Shannon Foynes Port has huge potential to impact this. Once Foynes is connected by the new N69 Foynes to Limerick Road, the vast majority of Ireland's business centres and GDP will be within a two-hour drive of Shannon Foynes Port — delivering this road is a key. There is also the added value of linking the port up to the rail network to transfer more by rail freight, however, the Government will need to look at reducing the track access charge as it has committed to in the All-Island Strategic Rail Review. This will make rail freight more attractive for logistics operators.
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What actions are leaders in education and business seeking to underpin the future competitiveness of the Mid-West?
Engaging with Limerick Chamber through our policy and lobbying is hugely important to leaders across the region. It allows me to develop a data and evidence-based approach to advocate for improvements in the likes of housing and transport, to boost the competitiveness of the region. But they also ensure to raise issues when they are speaking to the Government and wider political stakeholders, ensuring that the region stays at the top of the agenda.
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