Glenveagh Properties warns on inflation as it claims developers can meet demand with Govt help

Glenveagh said it more than doubled its revenues last year to €476.8m and returned to profit

A Glenveagh Properties site in Co Kildare. The company said cost inflation could rise by another 6% this year for building firms. But, it said industry can close the housing supply-demand gap.

Housebuilding group Glenveagh Properties has said Ireland needs around 400,000 new homes built over the next 10 years in order to narrow the gap between supply and demand and improve the country’s accommodation crisis.

However, the group has also warned that ongoing building materials cost inflation will likely push up house prices further.