'Huge effort' to reach 30,000 new homes target after Covid disruption

Warning that house prices could surge after shutdown of building sites

Before the pandemic, Goodbody had forecast that reaching the 30,000 new homes target would take to the middle of the decade, but the Covid disruption of the housebuilding industry has made matters worse.

It will take many years to make good the Covid-19 disruption to house building, which means reaching the annual target of new builds required to start easing the housing crisis will be tougher, a leading economist has said. 

Dermot O'Leary, chief economist at broker Goodbody, said "a huge effort" will be required to build over 30,000 new homes each year — the target that most experts believe will be required in private and public new homes, if supply is to start meeting demand.