herald

Sunday 19 August 2018

New homes 'shortage'

LESS than 25,000 new homes remain unsold in Ireland and the Construction Industry Federation (CIF) warned there could be a shortage if the economy recovers.

The group representing builders said that official statistics showed there was less than one year's supply of new houses in the country based on medium-term demand.

The CIF's own evaluation of the Department of the Environment's figures shows that this is less than a one-year supply at projected normal demand for housing, which is expected to return in the medium term. The federation pointed out that during the 1980s, when the Republic's population was lower than it is today, about 25,000 new homes were sold every year.

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