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47,000 new homes per year needed to deal with housing crisis, report says


Up to 47,000 homes will need to be built each year to address the housing crisis according to a new report, while the latest CSO figures revealed that the housing completion rate in the last quarter fell by 32% due to the Covid-19 pandemic.

The building figures in the report are almost twice the 25,000 target outlined in the Project Ireland 2040 plan.

The four main sources of housing demand are natural increase in population, net migration, household size and household obsolescence. The level of owner-occupied housing is largely in balance but the private rental sector and social housing lag behind making up the 25,000 unit shortfall.

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