Nama Report: Developers ‘hoarding’ home sites

Developers “hoarding” land are delaying building badly needed houses to benefit from rapidly rising house prices, the chief executive of Nama has said.

Brendan McDonagh said that only a small fraction of the residential sites Nama has sold to developers since 2010 for housing have actually been built on.

Mr McDonagh was speaking to reporters alongside outgoing Finance Minister Michael Noonan and Nama chairman Frank Daly at the presentation of Nama’s 2016 annual report.