Ireland will need to build 93,000 homes a year meet demand between now and 2031, according to a report by stockbroker Davy.
The estimate is significantly higher than housebuilding targets included in the Coalition’s Programme for Government, which envisages 300,000 new homes being built between 2025 and 2030.
Last year there were only 30,000 homes built in Ireland, which fell short of the Government’s official target of 33,000 and far below projections by then minister for housing Darragh O’Brien.
Davy’s forecast is based on its estimate that the population will reach six million by 2031.
The report says the housing shortfall is now 230,000 homes.
It also says the lack of housing is impacting on household formation for younger age groups as it affects that cohort of the population having families.
Read the full details on RTE.IE
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