Banks are expecting a 12,000 shortfall in new homes this year

Early estimates predicted as many as 26,000 new homes would be built in 2020 but these have been revised to 14,000 to 16,000 due to the shutdown.

There will be a shortfall of up to 12,000 new houses in 2020 due to the coronavirus shutdown and the workplace restrictions currently in place, the banking sector lobby has warned.