IHBA respond to figures from ESRI on new home supply figures
The Irish Homebuilders Association (IHBA) has noted the estimations from the ESRI report that Ireland needs 28,000 new homes to be built per annum over the next 20 years to meet demand and has expressed concern that the supply of new homes is still well behind where it needs to be.
The IHBA represents hundreds of home builders of all sizes across Ireland, speaking recently James Benson, spokesperson for the IHBA said,
“This new research from the ESRI reflects our own findings and the experience of our members working on the ground who are reporting that the supply of homes is hugely behind where it needs to be. The Covid 19 pandemic has meant that although we are likely to complete 20,000 new homes in 2020 (compared to over 21,000 last year) commencements still continue to lag where we need them to be. If this continues, the number of homes available for private consumers will be at 1970s numbers which is hugely concerning. Many of our members are reporting that while some progress has been made on completing homes, uncertainty in the economy and a lack of confidence in the pace of recovery is deterring new starts.”