Oliver Mangan: Pressures are building on house prices  

Industry sources suggest that new supply this year could be down by between 15% to 20% on 2020 levels, a supply deficit that will put further upward pressure on property prices

Industry sources suggest that new supply this year could be down by between 15% to 20% on 2020 levels.

New housing supply, as measured by the CSO’s completions data, held up much better than expected last year, despite the building industry being shut down from late March through to the second half of May. 

For the full year, 20,676 new housing and apartment units came on stream in 2020, representing a fall of less than 2% when compared to the 2019 total of 21,087 units.