Homes crisis worse than thought, says analyst

The accuracy of figures used by officials to assess the depth of the housing crisis has again been called into question by the chief economist at Goodbody after an authoritative private survey suggested a lot fewer homes were under construction than currently thought.

Dermot O’Leary said his reading of the GeoDirectory survey suggests many more houses will be required to meet demand than official targets have assumed and that the housing crisis will stretch well into the next decade.

The chief economist said he believes the number of new homes being built is closer to 10,000 at a time when 35,000 new homes a year will be needed to start satisfying demand.