Savills warns over house building ‘arms race’

Property firm Savills Ireland has said current housing requirement estimates are exaggerated, warning that too many houses may be built if more realistic targets aren’t considered.

Property firm Savills Ireland has said current housing requirement estimates are exaggerated, warning that too many houses may be built if more realistic targets aren’t considered.

While accepting the current acute shortage of housing accommodation and the likelihood of it taking a number of years before supply can better meet demand, Savills Ireland’s director of research John McCartney said current requirement estimates ranging from 30,000 to 40,000 new houses per year are not realistic.